Australia: Potential for barley crop surpassing 11 mln tonnes remains high thanks to a near perfect growing season

Rain across all Australia’s major barley-growing regions and moderate temperatures are creating a near perfect growing season, RMI Analytics report.

The one questionable area remains central New South Wales, which is very late due to earlier wet planting conditions, but the analysts expect Western Australia, South Australia, and Victoria to more than compensate for any drop in New South Wales.

RMI Analytics’ barley production forecast for Australia remains at 11 mln tonnes, but the possibility for a higher level is increasing on good conditions (11.5-12 mln tonnes).

Further price weakness is reported as Australia continues efforts to remain competitive as world prices fall.

Old crop business was reported (Mexico), confirming a still strong demand situation as beer demand for malt remains. Further, demand has arisen from New Zealand, as the re-export of malt into South-Eastern Asia is reported.

There are no reports of a softening of the geopolitical front between China, Australia, and New Zealand.

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