EU: Barley exports estimated at 5.16 mln tonnes in 2016/17
In 2016/17, EU barley exports were 5.16 mln tonnes (TAXUD data), domestic feed use was high at 41 mln tonnes, H. M. Gauger GmbH reported earlier in August.
The carry-over of 6.1 mln tonnes looks too high as per reports from local markets.
Prospects are for a much smaller crop, 57 mln tonnes vs. nearly 60 mln tonnes last year. The export target of 7.8 mln tonnes is endangered by the turbulent currency market. The euro gained 4% against the US dollar since last month, and EU export offers look uncompetitive in world markets. Exports in July 1 – 26 were only 161,000 tonnes, minus 78% y/y.
The annual tax-free import quota of Ukrainian barley – 270,000 tons for the calendar year – is fully booked. With the special three-year quota of 325,000 tonnes a total of 595,000 tonnes of Ukrainian barley will be available for 2018.
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