Average malting price €40/t ahead of current feed price

Malting barley farmers who supply Boortmalt will be looking at the Free-On-Board (FOB) Creil Planet price with interest, as the average of that price each Wednesday from week 15 to week 36 of the year will be used as the harvest price for their crop this season.

That price is currently at an average of €188.44/t. This was almost €40/t ahead of the feed barley price last week which was running at approximately €150/t (at 20% moisture content) and has since dropped further.

Dried feed barley (new crop) was trading at approximately €180/t last week and moved to €175/t this week.

The prices from each of the dates passed so far are outlined below (excluding yesterday’s price – June 5).

Since Wednesday, April 10, the first date of the averaging period, the highest price which was reached is €191.00/t, while the lowest price hit was €185.00/t.

AgriLand reports on an average FOB Creil price in its weekly grain price reports, but the Boortmalt price is based on one variety – Planet. The FOB Creil Planet price can vary slightly from the standard FOB Creil price.

FOB Creil Planet prices:
  • April 10 – €186.00/t;
  • April 17 – €191.00/t;
  • April 24 – €190.50/t;
  • April 30 – €191.00/t;
  • May 8 – €189.00/t;
  • May 15 – €185.00/t;
  • May 22 – €185.00/t;
  • May 29 – €190.00/t;
  • Average – €188.44/t.

What are suppliers paid?

Boortmalt suppliers will be paid the average FOB Creil price (from weeks 15 to 36) at harvest on any barley which they have not fixed a price for. The average price is a base price paid at 20% moisture content – although on the continent this is the dry price.

Growers who deliver barley suitable for distilling (less than or equal to 9.3% protein content) will be paid €10.00/t on top of this base price.

Growers who do not reach malting barley specifications (9.3-10.8% protein content), but whose protein content is less than 11.8%, will be paid the base price minus €10.00/t.

Many growers have up to 40% of their barley fixed at an average price of €212.50/t.

These growers fixed up to 20% of their contracted tonnage at a price of €230.00/t in the autumn and winter period, and fixed up to 20% of their contracted tonnage at a price of €195.00/t in March.

The remaining tonnage of their contracts will be paid on the average FOB Creil Planet price on each Wednesday from April 10 to September 18.

Note

The FOB Creil Planet price used in the averaging model is the settled price on the day.

AgriLand understands that on a day when there is no market, the price is taken from the previous market day. For example, there was no market on May 1 and the price was taken on April 30 at €191.00/t.

When there was no grain traded, but bids and offers were made the middle ground between the bid and the offer was used as that day’s price.

For example, if a bid of €190.00/t was made and an offer of €192.00/t was also made then the price used on that day for the averaging model would be €191.00/t.