World: Barley crop 2023 forecast adjusted downward to 146.4 mln tonnes

RMI Analytics’ latest report leaves the forecast for world barley crop 2022 unchanged at 151.7 mln tonnes while for 2023, the crop has been adjusted downward to 146.4 mln tonnes. The main change is a reduction in Ukraine barley to 5.27 mln tonnes from the 2022 level of 6.2 mln, and is the direct result of the ongoing military conflict disrupting the agricultural supply chain.

Global barley demand is forecast to drop slightly, as a return to normal corn crops in Europe and the USA is expected.

Ending stocks remain above the lower level in crop 2021 (drought in Canada) but the reduction in supply by 5.3 mln tonnes does tighten the barley balance sheet overall which makes a good crop outcome in 2023 critical, the analysts said.

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