Global barley harvest forecast cut by 800,000 tons

Published Sep 8, 2024

Tridge summary

A report by RMI Analytics reveals mixed barley crop outcomes for the northern hemisphere, with reduced yields and quality changes due to extreme heat in Canada, leading to an 800,000-tonne decrease in the global production forecast to 143.7 million tonnes. This puts the 2024 global production slightly above 2023 levels. The reduced supply and demand have resulted in a tightening market for 2025, despite stable prices largely attributed to strengthening wheat prices. Australia and Argentina are emerging as significant producers, while Europe remains competitive in malt selection. The report highlights mixed market reactions, with some countries seeing positive domestic market performance and moderate malt export data from Europe.

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

Original content

The 2024 barley crop continues to feature mixed results in the northern hemisphere, including France and Canada, and very positive developments in the southern hemisphere, led by Argentina and Australia, according to a report from RMI Analytics published in early September. The most recent news comes from Canada, where the advancement of the harvest has confirmed concerns about the extreme summer heat that has reduced yields and led to quality changes. In response to this news from Canada, RMI has reduced its global barley production forecast by 800,000 tonnes to 143.7 million tonnes. This leaves global production for the 2024 crop just 1.1 million tonnes higher than the 2023 result, significantly reducing supply and demand compared to forecasts made a few months ago. As a result, overall barley demand and export trade are contracting along with the reduced supply. Barley production in Russia fell by 4.1 million tonnes compared to the 2023 harvest to 17.3 million tonnes due to a ...

Source: Zol