Analysts at RMI Analytics in their report report that the barley market has established a fairly good balance of supply and demand against the backdrop of a good harvest in 2022. The stability of the market supports the growth of the crop in North America and a good crop in Australia, but the negative factors are not the best crop in Argentina, as well as the war in Ukraine.
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RMI Analytics estimates that in 2023, the global barley crop will decline to 147.5 million tons, due to a reduction in planted area - mainly due to competition with wheat. In addition, after very strong harvests in 2022, Australia and Russia will return to long-term averages. In total, six major regions will harvest 4.5 million tons less, but stocks will be quite stable due to the reduction in the use of barley for forage purposes, including due to the growth of corn and wheat crops. At the beginning of 2023, the situation looks mostly positive, according to RMI Analytics. Only Ukraine raises questions: analysts are not sure whether agriculture will be able to maintain the volume of crops. Winter crops in Europe are developing well, which allows us to hope for a normal harvest, writes E-malt. World prices for barley began a gradual decline. Maltists and brewers have enough 2022 grain and market demand remains tight. Australia, which received a good grain harvest, and France (due ...