Australia: Good yields confirmed by barley harvest
Australia barley crop forecast is increased to 13 mln tonnes as harvest confirms good yields (ABARES at 13.4 mln tonnes), but the industry observers are still waiting for the estimate of the flood impact in the east, RMI Analytics said in their December report.
Weather has been generally favourable for harvest with rain causing only small delays.
New South Wales harvest is completed with malt quality assured sufficient local maltster coverage.
In Western Australia, CBH reported another massive week with 3.3 mln tonnes of grain receipts (10.3 mln crop 2022 total). Decent harvest conditions and higher-than-expected yields were reported. In addition, shipment pace is also setting records with 1.54 mln tonnes shipped in November alone (all crops).
Australian malting barley prices have softened under harvest pressure of a large crop although feed barley prices are stable to slightly up. The region remains the low cost origin.
Rumours continue to swirl regarding China and Australia resolving the barley tariff issue but nothing has been confirmed and the status quo remains.
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