The snapshot :

• China slammed us with tariffs of 80.5 per cent on this day last year.
• In my opinion, the anti-competitive dumping allegations are an overreach.
• We saw big falls in the market due to the tariff. Prices were 17pc down in May, followed by a further 3pc in June.
• Despite the large crop and the loss of China, barley pricing has been above the 50th percentile.
• The reasonable pricing levels have been a result of overseas action.
• Chinese demand for coarse grains has helped inflate Australian barley prices by proxy.
• The spread between wheat and barley is large.
• The positive of the barley tariff is that our markets are by necessity more diverse.
• Unless China changes tact, or there is a win at the WTO, then we have another four years.

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