World barley crop forecast reduced by 800 thousand tons

Published 2024년 9월 9일

Tridge summary

An RMI Analytics report releases in September highlights diverse results in the 2024 northern hemisphere barley harvest, with decreased yields and quality changes in France and Canada leading to a reduced global production forecast by 800,000 tons. The supply and demand outlook is shrinking due to increased demand and export trade. Weather conditions have also impacted production in Russia, leading to a decrease of 4.1 million tons compared to the 2023 crop. Despite these challenges, Australia remains the world's most competitive malting barley producer, and Europe is improving its malt selection, providing stability. Prices are stabilizing mainly due to strengthening wheat prices, with the Black Sea still leading in price competitiveness for feed barley.

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

Original content

The 2024 barley harvest continues to feature diverse results in the northern hemisphere, including France and Canada, and very positive developments in the southern hemisphere, led by Argentina and Australia, according to an RMI Analytics report released in early September. The most recent news came from Canada, where harvest progression confirmed fears of summer extreme heat that reduced yields and led to quality changes. Due to this news from Canada, RMI’s forecast for world barley production has been lowered by 800,000 tons to 143.7 million tons. Thus, world production for the 2024 crop is only 1.1 million tons above the 2023 result, which is a significant reduction in supply and demand compared to the forecasts made a few months ago. Consequently, overall barley demand and export trade is shrinking along with reduced supply. Barley production in Russia decreased by 4.1 million tons compared to the 2023 crop to 17.3 million tons due to a number of weather conditions (frosts, ...

Source: UkrAgroConsult