World: Barley supply and demand forecast remains tighter for crop 2023
The world’s barley supply and demand remains tighter for crop 2023, as production is set to drop, RMI Analytics said in their latest report.
Crop 2023 forecast at 145.8 mln tonnes is +0.2 mln on slightly better crop potential in Europe, offset by a minor reduction in Argentina (on lower planted area).
Northern hemisphere production is off to a good start and the prospects in the southern hemisphere are positive but with competition for area expected to reduce barley’s share.
The drop in production and corresponding decline in ending stocks is a slightly worrisome trend and a reminder of the ongoing competitiveness barley faces with other crops, including wheat, the analysts said.
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