Link Between Malting Barley Price & FOB CREIL Vital

The IFA Malting Barley Committee has emphasised the importance of retaining the link between the malting barley price paid by Boortmalt and the FOB CREIL market.

IFA Malting Barley Committee Chair Kieran McEvoy said “it is crucial that this link is maintained. It looks like it will ensure a significant premium for malting barley over feed barley in 2023 which will be badly needed. However, we are not happy with Boortmalt’s decision to impose a €10/tonne drying charge for 2023”.

“We spoke with Boortmalt representatives last week. Given the income and weather challenges tillage farmers face this year, imposing a drying charge is very much a retrograde step. We will be meeting Boortmalt shortly and we will raise this issue again,” he said.

“The FOB CREIL looks like it will deliver a very significant premium for Irish malting barley growers. At current market prices, it will be €60-65 euro/tonne over feed. It is frustrating that the €10/tonne drying charge is eroding this. However, it is essential that we retain the FOB CREIL as the price reference for Irish malting barley for this year and future years,” the Chairman continued. 

Reports from early malting barley crops are positive, with proteins reported between 8.5%-9.5%. Growers with later planted spring barley crops are concerned about meeting the malting quality specifications.

“This harvest, it is critically important for growers that the amount of barley that passes for malting is maximised. We have requested a meeting with Boortmalt representatives to discuss ways to ensure this is achieved,” concluded Mr McEvoy.