In Argentina, the barley market began to move

Published 2024년 1월 25일

Tridge summary

The global barley market for the 2023/2024 campaign is projected to see a decrease in production due to weak demand and a tight stock/consumption relationship. Major production losses are anticipated in the E.U., Australia, Russia, and Canada, which will not be offset by increases in Argentina and Turkey. Trade is predicted to drop by 1.3 million tons, with significant adjustments for Ukraine and Russia. China's purchases are expected to remain below previous levels, while Iran's demand is growing. Despite a decrease in the planted area, Argentina's barley production increased by 14% to 5.1 million tons. Barley shipments from the Port of Bahía Blanca increased by 21% in 2023, with China being the primary destination.

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

Original content

According to the recent Agro Economic Report of the Bahía Blanca Cereal and Products Exchange, the international situation of Barley for the 2023/2024 campaign would result in the lower production of the last cycles, with very low levels of existence and a tight stock/consumption relationship. Demand continues to weaken. Analyzing the main market players, according to CIG estimates, regarding production, the annual losses for the E.U. (-4.3 M Tn), Australia (-3.4 M Tn), Russia (-1.6 M Tn) and Canada (-1.1 M Tn), could not be compensated by the increases in Argentina (+ 0.6 M Tn) and Turkey (+0.7 M Tn). With a decrease of 1.3 M Tn in trade, from the export side, the main adjustments occurred for Ukraine (-0.9 M Tn), while, for Russia, the variation was positive (+0. 4 M Tn). Regarding the main importers, the largest purchases by China compared to the previous cycle stand out (+1.2 M Tn). However, they remain below previous cycles. The same happens with imports from Saudi Arabia ...

Source: Campototalweb