EU: Barley supply and demand balance unchanged in latest RMI Analytics report
The EU barley supply and demand balance is unchanged at 54.45 mln tonnes, RMI Analytics said in their early February report.
The dramatic reduction in malting barley selection rates (e.g. Denmark) remains to be monitored over the next months, but for now coverage is comfortable.
From a weather perspective, the news is generally positive. Winter temperatures remain above normal, although January experienced some colder temperatures but nothing to be concerned about for the winter barley crop.
In terms of spring barley seeding, there has been much needed clearing of wet weather, but early plantings are likely to be slightly delayed.
EU malt exports are running 10% behind crop 2022 and 4% behind crop 2021 levels. Add to this reportedly weak beer sales across Europe and the story is rather bleak. With summer 4+ months away, a recovery in beer demand is in the distance, the analysts said.
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