29 May, 2023

World: Barley prices direction remains downward

Despite the tightening supply and demand situation on the global barley market, the direction for barley prices remains downward, RMI Analytics said in their late May report.

Crop conditions, including planting progress, are mostly favourable toward a reasonable crop 2023 result, in key areas globally.

The influence on barley prices from outside markets, like corn and wheat, continues to play a significant role in barley’s price direction. After an about 50% downward correction from the peak in prices during mid-2022, analysts begin to wonder where prices will bottom-out.

With the looming end of the Chinese tariff on Australian barley, there is an ongoing shift in regional prices back to pre-tariff spreads. France, with the benefit of a good crop 2023 development is assuming the place as most competitive barley origin, with Australia maintaining a competitive stance. Canada and Argentina are not competitive at the moment. The Black Sea Grain Corridor is settled for another 60 days but remains a disruption until the war in Ukraine is over.

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