Australia’s Chinese-blocked barley heads for Thailand

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Commodities are fungible even if CCP apologists like Paul Kelly are not. Via Bloomie:

Government forecaster Abares expects agricultural exports to shrink to A$43.5 billion ($31.7 billion) as prices for many of its exports, including meat, wheat, barley and wine, slump because of the pandemic and Chinese trade restrictions.

Barley exports have been roiled by a demand hit unleashed by China’s decision to slap tariffs of more than 80% on the country’s shipments — then bar imports from biggest shipper CBH Grain Pty, according to Abares’ September report.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.