Australia: Barley crop forecast unchanged at 13.3 mln tonnes

Although rainfall amounts have diminished the past two weeks, except in parts of Western Australia, there is more rain in the forecast which adds to the good barley crop’25 prospects. Temperatures are warming slightly, which is also positive for the crop, RMI Analytics said in their latest report.

For the time being, RMI’s Australian barley crop forecast remains unchanged at 13.3 mln tonnes but there is upside potential. The pace of barley exports has slowed in Q2 as Chinese demand has backed off rather sharply.

Prices for crop’25 are weaker in the face of another big crop, while crop’24 prices are holding a seasonal premium. Some limited maltster demand for old crop malting barley, and new crop malt sales into south-east Asia are reported but offset by the poorer demand from China. Farmers are starting to show some willingness to sell, but against little buying interest.