Argentina: Barley crop forecast unchanged at 4.4 mln tonnes
RMI Analytics said their barley crop 2023 forecast for Argentina remains at 4.4 mln tonnes, with increased exports upon a normal crop result and, as a consequence, tighter ending stocks.
Welcome rains have fallen over the past month, which places crop 2023 plantings in better shape, certainly for southern Buenos Aires province.
Considerable financial challenges face farmers including high input costs and currency devaluation risk. A new government following this year’s election could further disrupt the export tax regime. Also, a special USD conversion rate for barley sales is a rumour.
Argentina barley prices are lower but trade activity is low with one old cargo recently traded, and demand is still present for a late crop 2022 cargo. No trade activity is reported for crop 2023.
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