10 February, 2006

World: World Crops and Markets Estimates by IGC

IGC London estimates the world grain crop of 2005/06 at 1.581 billion tonnes, consumption 1.583 billion tonnes, therefore a small reduction of end stocks to 310 million tonnes.

World barley production is 137.1 million tonnes, down from 151.8 million tonnes a year earlier. Barley end stocks will be 21.9 million tonnes versus 27.2 million tonnes last year.

The EU, North Africa and the USA recorded lower barley crops than in 2004, Australia, on the other hand, has harvested almost 2 million tonnes more. In the months and years to come focus will be on the strong increase of oilseed and grain usage for energy, which will influence S/D balances and market prices.

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