Canada: Forecast for increase in barley crop in 2023 remains unchanged
The significant increase in barley production expectations for crop 2023 to 10.26 mln tonnes remains unchanged, RMI Analytics said in their early March report.
In the last 30-days, a limited amount moisture leaves the main barley regions dry. Fertilizer prices are lower but input dealers are warning of supply issues ahead of spring planting season. Still, farmers appear more open to selling some portion of their crop 2023 barley production, possibly tied to lower wheat prices.
Lagging demand for malting barley (driven by weaker malt demand), both domestically and for export leaves maltsters and brewers well covered for the time being. Expectations remain that Canada exports 3 mln tonnes of barley, but the pace is slowing and a greater proportion is shipping to the USA and less so, to off-shore markets, the analysts report.
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