Benefiting from China’s large purchase of Irish grain futures prices
By: Date: 2021-04-17 Categories: Internationalfood Tags: ,
  Ireland’s”Independent” reported on March 30 that, benefiting from China’s strong demand for grains, Ireland’s wheat and barley grain futures prices have risen this year, according to the latest forward of Irish company Glanbia The harvest price shows that the current price of Irish green grain wheat is 168 euros/ton, and the price of green grain barley is 156 euros/ton. Together with the cooperative bonus, the price per ton will further rise by 10 to 12 euros, which is 20 to 25 higher than last year. Euro/ton. The analysis said that the main reason for the rise in global grain prices is the recovery of China’s economic activities. According to United Nations forecasts, as the sow herd raised in China recovers from the devastating effects of African Swine Fever (ASF), grain imports in Asia will double this year. The increase in Chinese purchases not only supported European wheat and barley prices, but also increased the forward price of corn by 30 Euros/ton. The current corn futures price is 205-210 Euros/ton, compared to 175-178 Euros/ton last year. In addition, the forward price of beans has also strengthened. The current price of beans at Dairygold in Ireland is 240 euros/ton, which is 20-30 euros/ton higher than in 2020. Alan Brown of the Irish Farmers’ Association (IFA) said the increase in forward grain prices is a welcome boost for Irish farmers. The Irish Grain Growers (IGG) encourages farmers to take advantage of rising futures prices to sell part of their forward contract products. However, IGG believes that the forward price cannot fully reflect the current global market trend, because the price does not take into account the increase in transportation costs associated with the new crown pneumonia epidemic or the trade disruption caused by Brexit. At the same time, the carbon benefits of local grains (the carbon benefits) ) Should also be included in the forward price.