World: World barley trade forecast increased to 26.935 mln tonnes
The US Department of Agriculture (USDA) in its February report raised its forecast for world barley trade in 2017/18 to 26.935 mln tonnes from 26.24 mln last month.
Barley export forecasts are up for Argentina (+300 thousand tonnes to 2.1 mln tonnes on a larger crop expectations) and Russia (+400 thousand tonnes to 5.2 mln tonnes due to strong pace to-date), whereas import forecasts have been increased for Iran (+500 thousand tonnes to 1.9 mln on stronger demand at the beginning of the trade year, particularly for barley from Kazakhstan) and Turkey (+250 thousand tonnes to 500 thousand due to stronger demand and reduced barley import tariff).
In 2016/17, world barley trade is estimated to have totalled 29.573 mln tonnes.
World barley production is forecast this month at 142.078 mln tonnes (vs 141.663 mln tonnes in January and 146.199 mln tonnes in 2016/17).
Total consumption is seen at 146.574 mln tonnes (vs. 146.114 mln last month and 150.348 mln in 2016/17), and global barley ending stocks at 17.8 mln tonnes (17.944 and 22.296 mln tonnes, respectively).
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