World: World barley trade forecast slightly down in USDA’s November report
World barley trade forecast for 2023-24 is slightly reduced in USDA’s latest report this month: 26.946 mln tonnes vs the October forecast of 26.971 mln and significantly lower if compared to the 30.504 mln tonnes estimated for 2022-23.
2023-24 export forecast is down for Argentina – at 3.2 mln tonnes vs. 3.4 mln last month (2.908 mln forecast for the 2022-23 marketing year). Ukraine barley export forecast is increased to 2 mln tonnes from 1.8 mln last month.
Barley imports forecast is up for the EU (1.6 mln tonnes vs. 1.4 mln) and down for Saudi Arabia (3.9 mln tonnes vs. 4.1 mln in the October forecast).
World barley crop is forecast to reach 142.284 mln tonnes in 2023-24 (141.773 mln tonnes forecast in October, 151.536 mln estimated for 2022-23). Production forecasts are up for Russia, Ukraine, and India and down for Argentina, the EU, and the UK.
Global barley consumption is seen at 144.557 mln tonnes (143.462 mln in the October forecast, 149.491 mln tonnes in 2022-23) and ending stocks at 18.102 mln (17.602 and 20.375, respectively).
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