20 March, 2024

World: Barley harvest 2023 now complete, crop 2024 forecast at 5 mln tonnes higher

Barley harvest 2023 is now completed with the southern hemisphere result know from a quantity and quality perspective and providing clarity for calendar 2024 usage across the supply chain, RMI Analytics said in their latest report earlier this month.

The focus is now on the next cycle, crop 2024, which is expected to deliver an increased total world barley production at 147.6 mln tonnes. This represents an increase of 5 mln tonnes over crop 2023, and comes predominantly from the EU27+UK, while the other major regions equate to a similar result as crop 2023. Ending stocks increase slightly as a result, mainly driven by the continued weak demand environment hanging over the global supply chain.

Looking ahead to crop 2024, it is reasonable to expect a more comfortable supply and stock situation to develop. A rebound in the availability of selectable malting barley is also expected, with a return to a normal quality outcome in Denmark, Germany, and Brazil, the analysts said.

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