News
19.02.2010
Bulgaria. Barley market is not active
Barley market is depressed and the activity is close to the point of freezing.
Cold weather conditions are not motivating any trade activity. We can report only some small coaster business that cannot influence the market at all.
Stocks of barley in Bulgaria are allowing much better pace of exports, but the demand is absent. EU countries are also suffering from absence of demand and so the major part of the barley will go to the intervention.
Current market levels discussed are between 105-110 euro/mt FOB, but no new deals can be reported. Prices of barley in the Black Sea region are also on a down trend so limited chances for improvement of the situation.
Planted areas for 2010 crop are poised to drop a bit, but in general the condition of the plants is ok for the moment. If we do not experience any major weather problem, we will head into the new crop with a serious carryover, which should push the prices further down.
Usually in February farmers start to think for the spring planting campaign and so some selling interest should appear.
