Denmark & Sweden: Danish and Swedish barley forecast to continue to fulfil European demand as most of French barley goes to China
From a total European point of view (including Russia and Ukraine), Denmark and Sweden jointly represent 6% of barley production, with a considerable influence on malting barley, RMI Analytics reports.
Barley production is quite stable in Denmark (3.7 mln tonnes on average during the last decade) whereas Sweden cannot boast of a particularly stable output (1.5 mln tonnes per year on average during the last 10 years).
Danish barley prices track closely with French 2RS (Creil), and usually at a slight discount.
The current market rally, +60% since May'20, is driven by mainly harvest delays in France and the Canadian crop situation.
Malting barley premiums are expanding currently and will support increased malting barley plantings in 2022, the analysts believe.
Danish and Swedish barley is forecast to continue to fulfil European demand as France continues to lead the execution of Chinese export demand.
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