A new malting barley price agreement was reached between the IFA malting barley committee and Boortmalt this week for contracted malting barley growers.

Under the new arrangement, MATIF prices still form the basis for price agreements. The green malting barley price is to be calculated as follows:

  • If the MATIF price is €180/t or below, €10 is added to the malting barley price.
  • If the MATIF price is between €180/t and €190/t, the malting barley price is €190.
  • If the MATIF price is above €190/t, the malting barley price is the same as MATIF.
  • For example, the latest MATIF December price of €185/t would have resulted in a Boortmalt malting barley price of €170/t, offering a small premium over feed prices. The changes mean the price will now increase to €190/t.

    The agreement is an acceptable improvement on the previous arrangment, according to IFA malting barley committee chair Mark Browne. Under the previous structure, agreed in March, the green malting barley price matched the MATIF milling wheat price until it passed €170/t. Prices were then subject to reductions above €171/t.

    The new agreement comes into effect immediately but growers can only avail of hedging options once malting contracts are signed. Many growers are still waiting to receive a copy of this year’s contract. An IFA meeting next Monday 9 July (8.30pm) at the Dolmen Hotel in Carlow will explain the new price structure.

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