EU: EU barley exports larger in Q1 of 2019/20 than in previous trade year
With larger production, the European Union has exported more barley in the first quarter of 2019/20 than the previous trade year, USDA said in its March report.
France and Germany are major exporters within the EU, shipping primarily to Saudi Arabia, China, and Iran.
Greater exportable supplies have pressured barley prices which, in turn, have provided an advantage to EU barley exports. In addition, strong exports are attributed to reduced competition from Australia and Russia.
In the last 2 decades, the EU and Australia have been the top two barley exporters. However, Australia’s recent drought has affected production and substantially squeezed exports on sky-high prices and Russia’s exports have slowed as the country attempts to expand domestic use.
The EU has primarily raised its exports to China, becoming the top supplier. Previously, Australia held a 70-percent share of China’s barley trade. However, in November 2019, China announced it would extend the antidumping and countervailing duty investigation of Australian barley. The Chinese government’s action likely has influenced buyers to seek supplies elsewhere.
For 2019/20, EU exports are currently forecast up 8 percent to 6.6 million tonnes.
Australia’s prices have begun to ease closer to EU prices due to recent rainfall which has alleviated some concerns over drought and has reduced feed demand for livestock. Although EU prices remain competitive, questions remain over whether it will hold its position in China or look to other markets such as the Middle East to maintain its strong exports.
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