World: World barley trade forecast increased on huge raise in Australian export forecast

World barley trade forecast for 2016/17 is up to 27.705 mln tonnes in the March report by USDA versus 26.475 mln tonnes forecast in February and 27.475 mln in 2015/16.

Australian barley export forecast is raised 1.1 million tonnes to a record 8.1 million on record production and continued robust demand from China, the USDA said.

Russian barley export forecast is cut 300,000 tonnes to 3.6 million on the tepid pace of shipments.

Chinese barley import forecast is raised 400,000 tonnes to 5.4 million reflecting larger shipments, mainly from Australia.

Saudi Arabian barley export forecast is up 500,000 tonnes to 11.0 million reflecting projected strong demand for competitively-priced barley from exporters such as Australia.

World barley production is forecast at 146.966 mln tonnes in 2016/17 vs. 143.953 mln forecast in February and 147.775 mln tonnes in 2015/16.

Global barley consumption is forecast at 147.363 mln tonnes (145.692 in February and 147.717 mln tonnes in 2015/16). Ending stocks are expected at 23.704 mln tonnes (22.877 and 24.101 mln, respectively).

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