Middle East buys EU grains
Friday, 23 July, 1999
EU grains featured prominently in several Middle
Eastern purchases this week. The amounts remained
small as buyers were reportedly deferring for clearer
indications of quality before committing to larger
purchases. French wheat prices ended the week slightly lower. Wheat from France went into both the latest joint UN-Iraq oil-for-food deal and a Moroccan purchase last Friday. However, it was excluded from Algerias tender to buy 100,000t of wheat.
150,000t of EU feed barley went into a
Tunisian purchase on Thursday. Most of
the barley is likely to come from intervention. Italian maize prices were reported as under
the pressure of both weaker wheat prices, lower due
to the recent poor harvest, and weaker international
soya prices. 75,000t of German wheat went into Algerias
purchase of 150,000t on Thursday, helping to
offer some price support to German wheat. Wheat
prices were reported at similar to lower levelsthan at this time last year. The German barley harvest is well under way
despite disruption from rain, mainly
in the South of the country. Despite the rain, most of
the barley appears to meet intervention quality.
Farmers, reported as being dissatisfied with current
prices, were leaving stocks on-farm. A German agricultural newspaper cited shortages of
storage and transport capacity – crucial at the time
of harvest – this week in both the northern and
eastern regions of the country. Large amounts of
intervention grain are still lying in German stores,
using up most of the transport capacity as grain
is delivered to port for non-EU export.
Eastern purchases this week. The amounts remained
small as buyers were reportedly deferring for clearer
indications of quality before committing to larger
purchases.
Tunisian purchase on Thursday. Most of
the barley is likely to come from intervention.
the pressure of both weaker wheat prices, lower due
to the recent poor harvest, and weaker international
soya prices.
purchase of 150,000t on Thursday, helping to
offer some price support to German wheat. Wheat
prices were reported at similar to lower levelsthan at this time last year.
despite disruption from rain, mainly
in the South of the country. Despite the rain, most of
the barley appears to meet intervention quality.
Farmers, reported as being dissatisfied with current
prices, were leaving stocks on-farm.
storage and transport capacity – crucial at the time
of harvest – this week in both the northern and
eastern regions of the country. Large amounts of
intervention grain are still lying in German stores,
using up most of the transport capacity as grain
is delivered to port for non-EU export.
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Taken from HGCA weekly MI Bulletin To contact the HGCA phone 0171-520 3972 Click here to visit the Home-Grown Cereals Authority |
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