World: Barley crop forecast down on low European supply
Barley crop 2023 forecast has been lowered to 145.6 mln tonnes, mainly on lower European supply (Spain), while crop 2022 estimate remains unchanged at 151.7 mln, RMI Analytics said in their latest report.
The 2023 anticipated drop in production leads to a corresponding decrease in ending stocks, as the consumption and export trade elements remain mostly stable.
Input costs for farmers remain a concern as prices have dropped and margins are being squeezed.
Winter barley development in Europe remains in very good condition and spring planting advances across the continent.
The good quality 2022 crop result provides stability to the overall malting barley supply situation but a fair 2023 result is critical, the analysts said.
Global barley prices are adjusting (lower) to the China tariff news. Canada barley prices are stable, while France and Argentina are down, as Chinese demand is at risk.
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