Australia: Barley crop still progressing very well

With harvest approaching in the more northernly regions of Australia, the crop is still progressing very well, RMI Analytics said in their latest report published at the beginning of October.

Global tightness in malting barley quality this year makes Australian gain greater importance, thus it is increasingly important to monitor the Australian harvest progress as it rolls forward.

The RMI Analytics experts have left their forecast of the nation’s barley output at 12.8 mln tonnes but still hold the possibility for 13 mln plus to be attainable.

Australian barley prices are slightly higher this month but still lag behind the global price movement, which is surprising. With Argentina expected to be fully sold out due to Chinese demand, the world sees Australian prices as very competitive. This could lead to further shipments of Australian barley to non-traditional destinations. The competitiveness of Aussie barley is impacted by high ocean freight rates but the gap with other world barley origins is widening to the point Australia still makes sense.

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