World: Barley production forecast slightly up but still the lowest in ten years
Global barley production forecast is slightly up in RMI Analytics’ latest report – the crop is expected to reach 138.4 mln tonnes versus 138 mln in the previous forecast in early August and after an extended period of declines.
The turnaround is the result of the following changes:
A slightly higher (0.3 mln tonnes) EU+UK supply, offset by a similar decline in Canada (-0.3 mln tonnes;
Higher reported Russian barley yields boosting production by 0.4 mln tonnes to 20 mln, and potentially a further increase as harvest advances (based also on better Russian wheat yields).
Despite the slight bounce higher in global production, the result is still the lowest in ten years, the analysts point out. Further, on top of a lower overall supply, the proportion of quality malting barley has dropped due to weather problems in several key regions.
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