World: Global barley trade forecast slightly increased in USDA’s latest report

Global barley trade forecast for 2023/24 is slightly increased this month, to 26.971 mln tonnes as compared to 26.871 mln forecast in September and 30.927 mln tonnes estimated for 2022/23, USDA said in their latest report.

Export forecast is up for Russia (+400 thousand tonnes to 5.3 mln) and down for Australia (5.2 mln tonnes vs. 5.5 mln in September), USDA said.

Total barley crop is expected to reach 141.773 mln tonnes vs. 141.893 mln forecast in September and 151.704 mln tonnes harvested in 2022/23.

World barley consumption is seen at 143.462 mln tonnes (143.695 mln forecast previously, 150.668 mln tonnes forecast for 2022/23) and ending stocks are forecast at 17.603 mln tonnes (17.363 and 19.291 mln tonnes, respectively).

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