13 January, 2024

EU & UK: Barley supply and demand balance changed upward

The supply and demand balance in the EU and UK is changed upward, by 0.12 mln tonnes, to 54.45 mln tonnes, RMI Analytics said in their early January report.

Winter temperatures have been relatively warm this year which is a positive for winter crops (so far). The earlier wet weather that disrupted winter seeding has continued over the past month, which is benefiting soil moisture conditions and river water levels (which were previously low). As we look toward crop 2024 spring barley seeding, it would be ideal to have an end to wet conditions in the weeks ahead in order to create an optimal seeding window. Late seeding would have yield implications.

Barley exports are adjusting to the crop 2023 reality, along with domestic usage being lower (e.g. weak malt demand) which leaves a steady stock situation in place. At this stage, supply seems well-balanced and the expectation is crop 2024 makes a recovery in supply and higher stocks.

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