13 April, 2024

World: Barley trade forecast for 2023-24 reduced to 28.37 mln tonnes

World barley trade forecast is slightly reduced in USDA’s April report, now expected at 28.37 mln tonnes vs. 28.54 mln in March.

For comparison, the 2022-23 trade volume is estimated at 30.383 mln tonnes.

2023-24 barley export forecast is reduced for the EU (6.2 mln tonnes from 6.5 mln in USDA’s March report) and increased for Ukraine (2.3 mln tonnes vs. 2.2 mln) and Kazakhstan (1 mln vs. 950 thousand tonnes forecast in March).

Import forecast is increased for China (9.7 mln tonnes vs. 8.7 mln in the March report) and reduced for Saudi Arabia (2.6 mln vs. 3.6 mln tonnes last month).

World barley crop 2023-24 is forecast in USDA’s April report at 142.263 mln tonnes, versus 142.224 mln in their March report and compared to 149.572 mln tonnes in 2022-23. The production forecast is up for the EU (47.7 mln tonnes vs. 47.5 mln in March).

Global barley consumption is forecast to reach 144.309 mln tonnes (143.75 mln in last month’s report, 147.679 mln in 2022-23) leaving ending stocks at 18.387 mln tonnes (18.544 mln and 20.433 mln tonnes, respectively).

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