World: Barley crop forecast unchanged at 147.1 mln tonnes

The world barley supply and demand situation remains mostly unchanged, as well as the forecast for crop 2023 at 147.1 mln tonnes, RMI Analytics said in their latest report.

With the global harvest results achieved in 2022 (estimated at 151.7 mln tonnes), a certain amount of quality malting barley is being carried over to the 2023 crop year and ensures a smoother crop changeover from 2022 to 2023. Maltsters have the benefit of a known barley quality 2022 to draw upon (e.g., the UK and North America), if demand increases or crop 2023 concerns develop over the next three months.

Europe’s good start to crop 2023 development is providing a stabilizing effect to the world barley market, amidst a continuing array of disruptions (e.g. Ukraine, China/Australia). A slightly lower global crop output in 2023 means an elevated level of volatility will prevail through harvest 2023. Disrupted trade flows currently in place appear ready to shift back toward normal flows (e.g. China), the analysts said.

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