World: Barley crop forecast for crop 2023 down to 147.3 mln tonnes
The global barley production forecast is unchanged for crop 2022 at 151.9 mln tonnes, while crop 2023 is down to 147.3 mln tonnes as competition from other crops is expected to be intense, RMI Analytics said in their late January report.
With the crop 2022 results finalized, the current situation is stable from a supply point of fiew and the trade focus is increasingly turning to new crop.
The biggest production change for crop 2023 is in Australia where another big crop is expected following three big barley crops, and stiff competition from wheat and canola will play a key role in planted area, the analysts said.
Having a good stable crop 2022 result is beneficial but the importance of a reasonable crop 2023 result remains elevated until the crop is more certain.
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