World: Barley trade forecast for 2017/18 increased to 27.835 mln tonnes
In its latest report published on April 10, the US Department of Agriculture (USDA) forecasts world barley trade in 2017/18 at 27.835 mln tonnes versus 27.135 mln tonnes in its March forecast and 29.573 mln tonnes traded globally in 2016/17.
Export forecasts are up for Argentina (+400 thousand tonnes to 2.5 mln tonnes) thanks to strong global demand and Russia (+200 thousand to 5.4 mln tonnes) due to strong demand for Russian barley from the Middle East countries. Imports forecast is up for Iran (+800 thousand tonnes to 2.9 mln) and China (+200 thousand tonnes to 7.2 mln) as the latter continues to make large purchases for feed use.
World barley production is forecast to total 141.911 mln tonnes (down from last month’s forecast of 142.365 mln tonnes and 145.96 mln tonnes in 2016/17). Production forecast is down for Belarus: to 1.42 mln tonnes versus 1.9 mln tonnes forecast in March.
Global barley consumption is seen at 146.062 mln tonnes (146.575 mln in March, 150.135 mln in 2016/17) and ending stocks at 18.127 mln tonnes (17.866 and 22.278 mln, respectively).
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