Analyst Ukr Agro Consult raised its forecast for Ukraine’s 2018 wheat crop by 4.8 percent to 26.3 million tonnes mostly due to a larger harvested area. The consultancy said in a statement the higher output would allow the country to export 17 million tonnes of wheat in the 2018/19 crop season. This year, Ukraine is likely to harvest 6.4 million hectares of wheat with the average yield of 4.11 tonnes per hectare.
Prices of barley in Jaipur fell by 10 rupees to a two-week low of 1,390 rupees per 100 kg. Demand from the malt industry and stockists is subdued due to concerns over quality of the domestic stock.
Prices of barley fell in Jaipur, Rajasthan, as imports of the grain rose following concerns over quality of domestic stocks. Lacklustre demand from the malt industry also weighed on barley prices.
Prices of barley fell in Jaipur, Rajasthan, because of subdued demand from domestic stockists after prices hit a two-week high. In Jaipur, the benchmark market for barley, prices were at 1,450 rupees per 100 kg, down 30 rupees. Subdued demand from malt manufacturing companies following concern about the quality of domestic stocks also weighed on prices
Futures contract of barley fell on the NCDEX tailing weakness in Jaipur. On NCDEX, the most active April contract was at 1,464 rupees per 100 kg, down 0.6%.
The Statistics Committee of the Ministry expanded the barley acreage in Kazakhstan to a much greater degree than expected, while wheat plantings, on the contrary, ended up below the forecast. So, Kazakh farmers expanded barley plantings for the 2017 harvest by 9.4% against 2016, to 2.08 Ml ha. In addition, net grain yields turned out to be above expectations owing to a lower impurity content in the grain: it equaled 6.7% in 2017 against 8.8% in 2016. Thus, the Kazakh barley crop reached a record 3.3 MMT in 2017. Noteworthy is that Kazakhstan has bet on barley and it could not have done this at a better time, as barley export prices hit new highs this season. In view of the price upturn and surging production of Kazakh barley, its exports set new records. Kazakhstan within the first four months in MY 2017/18 than exported 56% more a year ago.
Futures contract of barley was down on the NCDEX, tracking a fall in prices in Jaipur, the benchmark market for the grain. The most active December contract was down 2 rupees.
Barley prices fell in Jaipur due to speculation on import of the grain from Argentina, following concerns over quality in the domestic market. Sluggish demand from malt industries also created pressure on barley prices.
The December contract of barley was up 1%, owing to improved demand from poultry feed industry. The most active December contract was up 0.99%. A decline in stocks of barley at the exchange accredited warehouses also supported prices on the NCDEX. Stocks declined because traders are withdrawing them to avail higher prices in the spot market.
Barley prices fell in Jaipur because concerns about the quality of domestic stocks hit demand from malt manufacturing companies. Speculations of barley imports from Argentina and favourable weather in key growing areas also weighed on prices.
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The global downward trends in grain prices have affected barley significantly. This season barley prices were at a six-year low. At the same time, the world barley trade is rather weak. In July-March 2016/17, global barley exports lag 8% behind last season. The main drop is seen in the European market. Having boosted exports, Ukraine managed to just partially offset the fall in European sales. The situation will change in 2017/18 season: competition among major exporters is expected to weaken. Overall, the world’s production will decrease 7%.
NCDEX barley down 0.9% as warehouse stocks rise.