World: Barley crop, trade, consumption forecasts reduced in USDA’s August report
World barley trade in 2023/24 is forecast at 26.871 mln tonnes in USDA’s August report, down from 27.171 mln forecast in July and from 29.786 mln forecast for 2022/23.
Export forecast is down for Canada (2.6 mln tonnes vs. 2.9 mln forecast last month) and imports are seen down for China (7.5 mln tonnes vs. 7.8 mln in the July report) and for Iran (2.2 vs. 2.5 mln) and up for the EU (1.4 mln tonnes vs. 1.1 mln).
2023/24 world barley production forecast is significantly down this month – at 142.643 mln tonnes vs. 145.755 mln in the July report and 151.759 mln in 2022/23. Crops forecasts are down for Canada (9.2 vs. 9.8 mln tonnes), the EU (48.4 vs. 50.4 mln), and Russia (19.1 vs. 19.6 mln).
Global barley consumption is forecast at 144.19 mln tonnes this month, down from 146.901 mln forecast in July and from 150.863 mln tonnes forecast for 2022/23.
Ending stocks are seen at 17.608 mln tonnes versus 17.631 mln forecast in July and 19.155 mln tonnes forecast for 2022/23.
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