The malting barley price for Boortmalt suppliers hit €400/t last week when the company began tracking the average FOB Creil Planet price for July 2022 from mid-April to mid-September for a 24-week period to calculate the Irish harvest price.

The IFA confirmed to the Irish Farmers Journal this week that averaging is going ahead, using the price at close of business each Wednesday. The opening price was €400/t on 14 April, up €21/t on the week previous.

Some growers have 40% of their barley fixed at prices of €250/t and €270/t. As an example, with 20% fixed at €250/t, 20% at €270/t and a harvest price on 60% at €400/t farmers would receive €344/t, provided 100% passes for malting.

However, if a farmer has a contract for 100t, has 40% of their barley price fixed and only 60% of their barley passes for malting they will be paid the fixed prices on 40t and the harvest price on the remaining 20t.