Almost A Million Tonnes Of Wheat/Barley Already Offered For Intervention

In the first week it was opened almost a million tonnes of wheat & barley was offered up for intervention in the EU, according to reports.

By Nov 8th 95,834 MT of wheat and 852,981 MT of barley was offered, with very significant quantities coming from Germany and France at 276,089 MT and 159,170 MT of barley respectively. On the Continent the current intervention price is EUR101.77/tonne.

In the UK only a little over 5,000 MT of barley has been offered so far at the current price of just under GBP91/tonne delivered.

Analysts expect that EU-wide 4-6 MMT of mostly barley could be offered for intervention before the season ends on 30 June 2010.