Australia: Barley crop 2023 still forecast at 10.88 mln tonnes
The forecast for Australia’s barley crop remains at 10.88 mln tonnes, a decline from the massive crop 2022 at 14.22 mln, 2023 RMI Analysts said in their latest report.
Continued focus by the trade on finding alternative markets (feed mainly) to replace the lost Chinese demand is showing amazing results with exports at about 8 mln tonnes in each of crops 2021 and 2022.
Ending stocks move to a more manageable 2.1 mln tonnes at the end of crop 2023.
The east coast of Australia continues to receive beneficial rains, further benefiting soil moistures in advance of crop 2023 planting.
Australian barley prices are shifting lower as the nation stays competitive in an overall weaker global market.
Confirmation is still being awaited regarding the China-Australia trade dispute for barley.
Meanwhile, the Aussie origin remains ultra-competitive into world markets, although prices have firmed over the past weeks.
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