Argentina: Busy shipment pattern continues for Argentina barley
A busy shipment pattern continues for Argentina barley with both traditional and non-traditional destinations, RMI Analytics said in their latest report at the end of February.
From a quality perspective, the crop is good, with only the previously reported presence of some isolated sizing issues. With a strong feed/FAQ programme in place, barley quality is being managed effectively.
The forecast for Argentina’s barley exports for crop 2021 is slightly increased – to 3.6 mln tonnes, leaving no carry-over, the analysts said.
The last two weeks in February saw rain across the Buenos Aires province, which was very welcomed in advance of crop 2022 barley sowing. The RMI Analytics’ initial crop forecast is 5.2 mln tonnes on slightly higher planted area but on a 5-year average yield projections. Wheat is a strong competitor for planted area in Argentina.
For crop 2022, it is expected that the farmers are a) reluctant sellers in general this early in the season, and b) likely to sell feed barley before malting due to quality risks. This continues the farmer selling pattern seen in crop 2021.
Industry sources report little new business in barley while execution of earlier trade continues at a strong pace. Shipments to Europe, the US, and India are above the Brazil/China demand.
There is no trade in crop 2022 yet as farmers must still negotiate land rents for 2022.
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