World: Barley quality sufficient to meet brewing and distilling requirements, analysts say

The reduced supply of barley from crop 2023, and with global production forecast at at 142.6 mln tonnes in 2023/24, despite some variability, there is sufficient quality to meet brewing and distilling requirements, RMI Analytics said in their latest report.

The weak demand environment currently hanging over the market is expected to reduce trade volumes from crop 2022 levels. Feed barley demand is forecast lower, partly due to the overall reduced supply of barley, but also a consequence of a rebound in global corn production. With nearly 10 mln tonnes lower production in crop 2023, the drop in demand is only reducing ending stocks to 2.2 mln tonnes.

As long as the demand environment remains weak, and no quality issues develop, there is ample supply of malting barley to cover brewing and distilling needs until crop 2024. After four years of relatively good production years (crops 2019-2022) supply has slipped toward the lower end of the 10-year range. The slow pace of barley (and malt) adds a further challenge in convincing farmers to plant barley in 2024.

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