World: IGC forecast the world barley trade at 17.4 million tonnes for 2005/2006
International Grains Council (IGC) posted on November 24 in its latest Market Report that barley prices held steady, with EU values becoming increasingly competitive as Black Sea quotations firmed.
IGC’s estimated world barley production in 2005 remains at 135 million tonnes. In Australia, the only major producer yet to complete its harvest, rains were beneficial for late sown barley and the crop should be larger than last year’s 6.5 million tonnes.
Total barley use is put at 141 million tonnes, the same as last month. Feed use will be lower than last year in the EU and North Africa because of reduced output, but use in Canada will be up because of large livestock numbers and competitively-priced supplies.
World barley trade is projected for 2005/2006 at 17.4 million tonnes, 0.2 million tonnes more than in October. Heavy early-season purchases increase the import estimates for Iran and Morocco, and exports for Russia and the US. EU barley exports are ahead of last year’s because of reduced competition from Ukraine. Global end-season barley stocks are forecast at 21.7 million tonnes, 0.1 million tonnes less than last month.
In its rubric “Main Market Events Since 27 October 2005” IGC reported:
November 17 EU: Grain intervention offers to 13 Nov: wheat 1.6 million tonnes, barley 0.7 million tonnes, maize 0.8 million tonnes.
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