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Barley trade flows are shifting because China imposes very high anti-dumping duties on Australian barley. Argentina is set to ship at least 250,000 tonnes to China this year and 380,000 tonnes in 2021.
Australian traders are looking for other buyers, possibly Saudi Arabia and South American brewers.
Redirected flows add Argentine supply to China and push Australian barley into other markets, which could weigh on European export prices to Saudi Arabia. The net price effect depends on how far China's duties persist.
zmp.deAug 28, 2020Not 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.
