Global barley harvest in 2023/24 MY was the third lowest in 10 years

Published 2024년 1월 26일

Tridge summary

RMI Analytics forecasts the 2023-2024 barley harvest to be one of the lowest in a decade, leading to a significant decrease in ending stocks. Despite this, winter barley development in Europe is on track. The decrease in malt barley stocks due to weather conditions underscores the need for increased planting for the 2024 crop. Global barley prices are dropping due to decreased demand, despite the reduced malt barley supply. China's barley imports have doubled from 2022 levels, with Australia being a key supplier. On a brighter note, the global grain harvest for 2023-2024 is projected to hit a record 2.3 billion tons, largely driven by a rebound in the corn crop.

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

Original content

RMI Analytics analysts estimate that the barley harvest in 2023-2024 season will be the third lowest in the last ten years. Thus, the ending stocks of barley fell to a ten-year low. In addition, in Northern Europe and Eastern Australia, the volume of malting barley decreased. In the coming months, analysts will closely monitor barley quality problems in Europe, including Denmark and Germany. According to analysts, the development of winter barley in Europe is going well, despite the onset of low temperatures. RMI forecasts the harvest volume in Europe to be 54.45 mln tonnes, which makes the supply situation comfortable at the moment, but the malt barley supply should be monitored. The reduction of malt barley stocks due to weather conditions increases the importance of increasing the planted area and good development of the 2024 crop at an early stage. At the same time, barley prices in all regions are declining due to lower demand, and this trend is not even affected by the ...

Source: UkrAgroConsult