EU - Barley export commitments from the EU seem to be gathering pace once more, reflecting the increased competitiveness of grains priced in Euros.
In the week ending 20 January (week 30 of the season), the EU Commission issued a total of 286Kt of export licenses, the highest weekly volume since late September. This takes total export commitments for the bloc to 4.77Mt, just slightly behind last year’s 4.81Mt at this stage in the season.
The EU Commission currently (18 December) forecasts exports of barley this season 0.8Mt less than in 2013/14. As a result of a second large EU barley crop and a small drop in domestic demand, stocks are currently expected to increase by 3.7Mt to 10.6Mt, the highest level since the end of intervention. In 2009/10, EU barley stocks reached 18.5Mt.
If the current pace of exports continues, it suggests that a smaller amount of stock accumulation may occur in the EU this season, which could reduce the potential pressure on prices for the 2015 crop.
TheCropSite News Desk