EU: Malt capacity seen as short versus domestic and export demand

The EU malt market looks as follows: after the bad crop year 2021 with its short barley and malt supplies, rather good and early harvests in Central and North Europe were a welcome relief on the raw material side, H. M. Gauger GmbH said in their latest report.

In round numbers, the EU has a surplus of 1 mln tonnes of two- and six-row malting barley, which is a one-month supply for its industries. It is not really much, because stocks were completely empty by the end of the 2021/22, malting of new crop barley started one month earlier than usual, and larger supplies are necessary anyway for a safe stockholding in the future (provided full beer production).

The analysts’ assumption is in the EU farmers and trade sit on limited barley stocks, maltsters are usually fully covered to remain safe financially, some brewers are short of malt and others of barley against long-term agreements (LTAs). Only 80 - 90% of the 2023 malt needs have been covered, but the EU maltsters have sold 95 to 100% of their production. The EU malt capacity is short vs. domestic and export demand.

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