World barley production: Another upward revision for the EU raises the world barley production figure by 0.4 million tonnes, to 151.8 million tonnes up from 140.0 million tonnes in 2003, the International Grains Council revealed in its Grain Market Report on November 25. Barley consumption is also placed slightly higher, at 143.9 million tonnes, due to a revision for the United States. Global trade is expected to recover from last years’ much-reduced level, with increases both for feed and malting. EU barley exports are forecast 0.5 million tonnes higher than last month, following several substantial export refund awards. With production exceeding consumption world barley stocks are expected to be the highest since 1998/99, at 29.6 million tonnes.

World barley prices were being supported by tighter export availabilities in Russia and Ukraine, while domestic EU values were buoyed by a significant volume of export refund awards, IGC said on November 25.

28 November, 2004