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South African barley farmers face weak demand after the government reinstated an alcohol sales ban in December to curb Covid-19. Unutilised barley stocks reached about 719,307 tonnes by December, 49% higher year on year, and AB InBev cut its 2020/21 malt barley mandate to 380,000 tonnes.
Growing unsold stocks and lower malting demand are bearish for South African barley prices and could reduce planting for the 2021/22 season.
moneyweb.co.zaTanisha Heiberg, ReutersJan 27, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
