
February 24th, 2010 - First malt inquiries for crop '10 are being discussed between brewers and maltsters. Low, i.e attractive, prices, as well as some concern about the announced reduction of the spring barley areas in the EU27, can be mentioned in this respect. Volumes traded however, are limited so far, which continues to point to the high grain stock situation and the sluggish beer consumption situation. Despite area reductions, malting barley prices appear to have limited upside potential, assuming normal weather conditions.
The above information is for general purposes only. Any reliance you place on the given information is therefore strictly at your own risk.

| Holland Malt PO Box 505737 ZH LieshoutThe Netherlands | +31 499/428 201+31 499/428 281www.hollandmalt.cominfo@hollandmalt.com |
| Maltings EemshavenWestlob 49979 XJ Eemsmond | Maltings Lieshout De Stater 15737 RV Lieshout |
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