World: Barley trade forecast up in USDAs latest report
Global barley trade forecast is up in USDAs latest report at 28.071 mln tonnes vs 27.546 mln forecast in January.
This compares to 30.369 mln tonnes forecast for the previous marketing year of 2022/23.
The increase for 2023/24 is due to revised forecasts for Australia (6 mln tonnes vs 5.5 mln tonnes forecast in January) and Kazakhstan (950 thousand vs 850 thousand tonnes a month ago). Export forecast is reduced for Canada to 2.4 mln tonnes from 2.6 in January.
China is expected to import 8.4 mln tonnes of barley (8.1 mln tonnes forecast in January, 8.582 mln tonnes estimated for 2022/23). The import forecast is also up for the EU (1.7 mln tonnes vs. 1.6 in USDAs January report; 2.157 mln tonnes estimated for 2022/23).
World barley production is seen at 142.782 mln tonnes vs. 142.871 mln in the January report and 151.614 mln forecast for 2022/23.
Global consumption is forecast at 144.565 mln tonnes (144.661 mln in January, 149.729 in 2022/23) and ending stocks at 18.416 mln (18.375 and 20.199 mln tonnes, respectively).
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