Analysts cut global barley harvest forecast by 800 thousand tons

Published 2024년 9월 8일

Tridge summary

The global barley harvest this year is projected to decrease to 143.7 million tons, a 800,000 ton drop from the previous estimate, due to extreme summer heat, particularly in Canada and Russia, according to Profibeer and RMI Analytics. The decrease in production and quality in these major producing countries is expected to reduce both the global supply and demand for barley, contributing to stabilization of crop prices which will be largely influenced by wheat prices. However, countries like the UK, Denmark, Australia, and Argentina are expected to partially offset this negative forecast with successful harvests. Despite an increase in feed barley prices in Black Sea ports, they are expected to remain competitive, leading to a relatively stable world barley market with a potential for moderately positive dynamics in barley malt exports in Europe.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The global barley harvest this year may amount to 143.7 million tons. This was reported by the Profibeer portal with reference to experts from the RMI Analytics company. This is 800 thousand tons less than the previous estimate of analysts. The basis for such a negative adjustment was the extreme summer heat, which even reached one of the world's largest producers of this crop, Canada. The weather anomaly has already reduced the grain yield in the country and worsened its quality. Another country that will affect the overall decline is Russia. According to experts, crop production there has decreased by 4.1 million to 17.3 million tons over the year due to frosts, droughts and floods replacing each other throughout the year. In this regard, the total increase in the harvest from last year's level will be significantly less than previously expected - 1.1 million tons. It is also noted that this will significantly reduce not only the global supply of barley, but also the global ...

Source: Rosng