Australia: Barley crop 2023 forecast at more modest 10.88 mln tonnes after massive crop 2022
With the massive Australian barley crop 2022 at 14.22 mln tonnes (the second-largest crop) safely in storage and suitable malting quality confirmed, attention turns to crop 2023; RMI Analytics forecast is downward to 10.88 mln tonnes. Competition from wheat and canola will be strong, the analysts warn.
With a large crop to market, and the looming possibility of China addressing the import tariff, exports are forecast to remain very strong.
Australian barley prices are down under the weight of a big crop. Until a resolution of the China/Australia trade issue is confirmed, Australia must remain aggressive in global markets, in order to achieve exports at nearly 7.5 mln tonnes.
In crop 2023, the nation’s barley exports are forecast to decline in nominal terms, but the ratio of exports/production increases.
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