20 April, 2023

Europe: Bearish tone dominating across European barley markets

Overall, a bearish tone dominates across European (and global) barley markets which is mainly related to expectations of intense competition following Australia’s return as a supplier to China, RMI Analytics reported on April 20.

France’s barley prices are down again in both Creil and Mosel. Creil is feeling the majority of the brunt from the anticipated Chinese termination of the prohibitive tariff against Australian barley, while Mosel is holding up better.

In the UK, prices are mostly down with small old crop recently sold. UK barley exports at 1 mln tonnes are mainly into the EU (99%) and 40% of that volume destined for Spain, where 2022 barley production was 2 mln tonnes below the five-year average. With another challenging year in 2023, the UK should expect a continuation of exports to Spain, the analysts said.

Further Ukraine grain exports into the EU are being opposed by Poland and Hungary, who claim the cheaper Ukrainian grain is damaging financial returns for local farmers. A possible bullish item for EU prices, the experts point out.

Înapoi

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