World: Global barley crop estimate mostly unchanged at 142.5 mln tonnes
At this time of the year, the supply side of the global barley balance sheet is mostly determined, with RMI Analytics’ crop estimate mostly unchanged at 142.5 mln tonnes, the analysts said in their early January report.
Although harvest results in Australia and South America faced considerable challenges, the overall end result is positive. The total supply of malting barley has diminished under less than ideal weather conditions which needs to be monitored. There is considerable quality variability to work through.
As we entered 2024, the main question is whether barley production can rebound after a smaller crop 2023. The previous four crop years were higher, despite droughts in Canada and Argentina, and the war in Ukraine. Over the next three months, it will be critical for barley (malting barley in particular) to maintain competitiveness versus other crops, while the fight for area is taking place.
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