Boortmalt growers have been offered a second forward selling opportunity for the coming harvest.

Up to 20% of contracted tonnage can be sold at a price of €300/t. The price offer was made through the various merchants tasked with assembling grain on behalf of Boortmalt this year.

Previously, an offer of €320/t was made in December, also on a maximum of 20% of contracted tonnage.

This price is way back on the 2022 harvest price of €398/t paid by Boortmalt. However, it is better than the forward prices offered 12 months ago for last year's crop.

Invasion

Then, an initial €250/t in late 2021 was followed by an offer of €270/t. Both offers were prior to the Russian invasion of Ukraine, which transformed grain markets globally.

Growers may note that last year saw the second forward price better than the first one. This time around, the €20/t differential is in the wrong direction.

Farmers have until Tuesday evening 7 March to confirm uptake of the €300/t price. Boortmalt typically does not comment publicly on uptake of forward prices.