World: Barley crop 2024 expected to increase improving security of supply for 2025 requirements globally
Barley crop 2024 is expected to increase over the crop 2023 level by 6.2 mln tonnes to 148.8 mln. This result, if achieved, greatly improves the security of supply for 2025 barley requirements globally, especially under the current weak demand environment. In addition, a return to normal crop quality will increase malting barley availability, RMI Analytics said in their late March report.
The combined result is a much more comfortable supply situation. Should the malt demand picture improve, there is an expectation ample supply for that recovery will be available from crop 2024.
While the potential for a rebound in barley production is good, the challenges faced across several key regions could dramatically impair that potential. Expect higher crop yield and quality volatility through harvest 2024.
The world malting barley market is showing signs of ending the long-term price decline, with the RMI analysts warning of a possible rebound in prices, and this bounce is led by French prices. The main driver is the slow progress in getting spring barley planted across wet European countries. The UK and Denmark are following the lead from France as concerns about a late crop increase. For the other main malting barley origins, prices are steadier as Argentina and Canada adjust to Australia retaking the leading barley supply to China. Domestic Australia feed barley prices are higher which may have an impact on export price levels.
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