World: Barley trade forecast increased to 27.671 mln tonnes

Global barley trade forecast for 2023/24 is up this month, at 27.671 mln tonnes versus 27.171 mln in the May report, on increased export forecasts for the EU, Russia, and Ukraine, USDA said in their latest report.

The EU is expected to export 7.1 mln tonnes in 2023/24 as compared to 6.9 mln forecast a month ago and 6 mln tonnes forecast for 2022/23. Ukraine’s forecast is increased by 200 thousand tonnes to 2.5 mln and Russia’s by 100 thousand tonnes to 4.6 mln tonnes.

Barley import forecast is up for Iran (+200 thousand tonnes to 2.5 mln).

World barley crop 2023/24 is seen at 147.98 mln tonnes, up from 147.37 mln forecast in May but still below the 2022/23 crop of 151,991 mln tonnes. Crop forecast is up for the EU (+150 thousand tonnes to 52.85 mln).

Global barley consumption is forecast at the volume of 148.849 mln tonnes (148.385 mln forecast for 2023/24 last month, 151.25 mln in 2022/23), and ending stocks at 18.166 mln tonnes (18.099 and 19.035 mln tonnes, respectively).

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