World: Barley production forecast unchanged at 147.4 mln tonnes
Global barley production forecast for 2021/22 is unchanged at 147.4 mln tonnes but that stability in the S&D does not translate into a quiet market environment, RMI Analytics said in their late February report.
With Russia’s invasion in Ukraine the impact on global markets, including barley, has been immediate. Within the grain market, there has been a sharp increase in world wheat prices due to a perceived risk in shipping grain from the Black Sea.
Feed barley prices are following wheat higher and the implications to the world barley S&D are significant, as the Ukraine situation adds yet another possible challenge for China to fulfil its strong demand profile for barley.
In terms of prices, feed barley is leading the way at present for crop 2021, while crop 2022 remains well-supported.
Early barley 2022 crop indications are lower over 2021 but with little farmer selling associated.
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