World: The IGC estimates 2006/07 barley consumption will reach 148.0 million t

According to the International Grains Council’ Grain Market Report of October 26, the world barley production estimate is cut by 3 million t to 140 million t, the same as 2005. The drop is due to the Australian drought - its harvest may only be 4 million tons, the smallest since 2002 and lower yields in Canada after wet weather.

French malting barley is of better quality than anticipated but other EU countries report poor malting quality. Projected global barley consumption is unchanged from last month at 148 million tons, an increase in Ukraine, where pig numbers are increasing rapidly, offsetting a cut in Canada because of its reduced supplies.

The world trade forecast is cut by 2.1 million t to only 15.5 million t, the lowest for nine years, after reduced availabilities in Australia and Ukraine’s introduction of export quotas. Saudi Arabia and Iran will buy less feed barley and China less malting barley than previously foreseen.

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