World: Barley trade, production forecasts up for 2024/25 on large crop expectation in Australia

World barley trade is forecast at 27.114 mln tonnes in 2024/25, up from 26.114 mln projected last month but still significantly lower than the 31.947 mln tonnes forecast for 2023/24, USDA said in their March report.

Barley export forecast is up for Australia (7.2 mln tonnes vs. 6.2 mln in the February report) and Russia (2.8 vs. 2.6 mln tonnes) and down for Argentina (3 vs. 3.3 mln tonnes forecast last month).

Barley import forecast is up for Saudi Arabia (2.6 mln tonnes vs. 2.2 mln tonnes in the February report) and Iran (1.8 vs. 1.5 mln tonnes).

Global barley production is seen at 143.612 mln tonnes (142.47 mln tonnes in last month’s report, 143.374 mln tonnes estimated for 2023/24) – mainly due to a significant increase in Australia’s barley crop forecast (to 13.265 mln tonnes from 11.7 mln forecast last month and compared to 10.8 mln tonnes in 2023/24).

World barley consumption is forecast at 147.079 mln tonnes (146.167 mln tonnes in the February report, 142.721 mln tonnes in 2023/24) and ending stocks at 17.871 mln tonnes (17.641 and 21.338 mln tonnes, respectively).

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