05 March, 2005

World Barley crops and stocks have been much more stable than other grains in past years. IGC estimates the world crop of 2004 at 150 million tonnes and consumption 144 million tonnes. The premium for feed barley over corn in world markets is very high: US $ 135-140 FOB EU/Black Sea ports vs. US$ 100 for No. 3 Yellow Corn, FOB Gulf and US$ 85 for Argentinian maize, FOB Upriver. Also feed wheat at US$ 145-155 CIF Mediterranean destinations is more competitive. World trade of barley amounts to 15-16 million tonnes. Almost 10 million tonnes of the total go to the Muslim countries of the Middle East and North Africa.

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