Saudi Arabia demand boost Australian barley price

A large tender from Saudi Arabia and a falling Australian dollar has caused the price to be fetched for Western Australian barley to rise to about $260/MT. The tender had participating countries from the Black Sea, Europe, and Argentina. Barley prices were trading at about $270/MT in May before plummeting to about $220/MT after China announced the introduction of an 80% tariff on all Australian barley exports. The rise in price, which is up higher than the long-term average of $250/MT, is welcome news to WA farmers who are gearing up for harvest.