Australian Barley Prices Plummet Amid Record Yields and Market Glut
What happened
The southern cropping zone is experiencing record yields this harvest. However, a glut of barley, confirmed by recent US Department of Agriculture forecasts, has placed significant strain on the market. Prices for BAR1 quality barley are falling to around $260 a tonne port, with site prices reaching as low as $220/t in the Mallee.
From stockandland.com.au
Why it matters
The combination of high production costs and plummeting prices is creating financial strain for growers. According to reports, growers require 4t/ha just before they can achieve profitability.
From stockandland.com.au
Who's involved
- Simon GriggNew Zealand musician and businessman
- VictoriaCity in Entre Rios, Argentina, which defines policy and jurisdiction
- LaborCompany in Rome, Italy, which functions as the current state government of Victoria
- Grattan InstituteAustralian public policy think tank that may receive advice on agricultural market failure
- SaanichDistrict municipality in British Columbia, Canada, engaged in shared governance with Victoria
- James NewburyAustralian politician who holds the executive leadership role as the current premier of Victoria
- Daniel AndrewsPerson who held the leadership role within the Victorian government
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Grattan InstituteSpeculative
The Grattan Institute could be affected as a crisis necessitates policy research and advice on agricultural market failure and costs.