Saudi Arabia: Stable increase in barley imports by Saudi Arabia may lead to revised world barley trade forecast

As of the beginning of March, barley markets reported sales of 1.0 to 1.2 mln tons of old and new crop feed barley to Saudi Arabia. It seems that Australia and the EU were the principal sellers of old crop, the Black Sea of new crop barley, industry observers said in a report.

Argentina had sold its disappointingly small surplus before harvest, Canada had not been competitive, and offers of old crop barley from the Black Sea had dried up some time ago. Sales prices were reported at US$ 340,- CIF for old crop and US$ 300,-/305,- CIF for new crop barley.

The IGC expects Saudi imports of no more than 7 mln tons; private estimates, however, expect even larger imports than the 8.6 mln tons of 2011/12. In July/Dec Saudi Arabia already imported 4.442 mln tons. The IGC estimate of 17.1 mln tons total world barley trade may prove to be too low.

20 March, 2013