World: Barley trade forecast up in USDA’s latest report
Global barley trade forecast is up in USDA’s latest report – at 28.071 mln tonnes vs 27.546 mln forecast in January.
This compares to 30.369 mln tonnes forecast for the previous marketing year of 2022/23.
The increase for 2023/24 is due to revised forecasts for Australia (6 mln tonnes vs 5.5 mln tonnes forecast in January) and Kazakhstan (950 thousand vs 850 thousand tonnes a month ago). Export forecast is reduced for Canada – to 2.4 mln tonnes from 2.6 in January.
China is expected to import 8.4 mln tonnes of barley (8.1 mln tonnes forecast in January, 8.582 mln tonnes estimated for 2022/23). The import forecast is also up for the EU (1.7 mln tonnes vs. 1.6 in USDA’s January report; 2.157 mln tonnes estimated for 2022/23).
World barley production is seen at 142.782 mln tonnes vs. 142.871 mln in the January report and 151.614 mln forecast for 2022/23.
Global consumption is forecast at 144.565 mln tonnes (144.661 mln in January, 149.729 in 2022/23) and ending stocks at 18.416 mln (18.375 and 20.199 mln tonnes, respectively).
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