Global barley production in 2023/2024

The article highlights a decrease in the global production of barley and other grains due to adverse weather conditions in Canada, Australia, and Russia, leading to the lowest global production levels in 15 years. Despite the drop in supply, reduced demand has minimized price impacts. Geopolitical issues and war situations have also contributed to a slight increase in grain prices. The USDA and RMI have lowered their world production estimates for the 2024/25 campaign. Canada's barley production is estimated between 7.6 and 7.8 million tonnes, with variable quality. Russia's production is estimated at 16.8 million tonnes, a 15% decrease from the previous season. In Australia, production estimates have slightly decreased due to dry conditions and frost. Argentina is experiencing delays in its corn harvest and sowing of winter crops due to storms. Despite these challenges, Argentina's malting barley competitiveness has allowed it to find new markets in Mexico, Peru, and Vietnam. Argentina's Undersecretariat of Agricultural Markets has registered export DDJJs for large quantities of barley for the 2023/24 and 2024/25 campaigns, with an estimated barley production of around 5.0 million tons for the 2024/25 campaign under good crop conditions.