27 January, 2023

EU & UK: Barley crop forecast increased slightly to 59.27 mln tonnes

For barley crop 2022, the EU27+UK estimate remains at 58.47 mln tonnes, while crop 2023 production increases slightly to 59.27 mln, RMI Analytics said in their latest report.

Strong exports remain in place for crop 2022 but are reduced slightly in crop 2023 as the possibility for Australia re-opening shipments to China is considered. Ending stocks are building slightly, offering further security of supply as a result.

For winter crops, continued mild temperatures support good crop development, with a risk of late frost still a possibility.

French barley prices continue to drop, particularly in crop 2022 where demand is weak with brewers/maltsters well covered. By comparison, crop 2023 prices are lower but to a lesser degree.

In the UK and Denmark, prices are also lower but not to the same degree as in France. Small lots trading in the UK and Danish barley but crop 2022 activity is winding down. The impact of the strengthening EUR and GBP in USD terms is significant, the analysts said.

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