Feed Commodities: Markets have been highly volatile in the past months due to recent world events. This article aims to make a short review of recent activity within such markets linked to global events.
SECOND ALL-TIME HIGH FOR AUSTRALIAN BARLEY EXPORTS A report by the U.S. Department of Agriculture’s (USDA) Foreign Agricultural Information Network (GAIN) forecasts shipments of this cereal to reach 8.5 Mt in the 2021/22 campaign.
This would be 200,000 tons more than in the 2020/21 cycle and would become the second highest figure recorded, after the 9.2 Mt sent in the 2016/17 campaign.
This significant exports volume would occur despite the tariffs that China began to apply on Australian barley (commodity) in May 2020. With a strong global demand for feed grains (commodities), which is expected to continue in 2022, Australia adapted quickly diversifying its exports to a wide range of destinations.
Barley production (2021/22) could become the third largest in history, with 13 Mt, despite the decrease of 100,000 tons if compared with the 2020/21 cycle.
The other significant cereal whose demand could increase, especially in feed, is wheat. It could reach a record production of 34 Mt and a maximum in exports of 25.5 Mt for the 2021/22 campaign.
Russian cereal exports below average
According to FAO, total cereal exports are projected to be slightly below average in 2021/22 as a floating export duty system for wheat, corn and barley would be in place from June 2, 2021, replacing the flat export duty system enacted at the end of January 2021.
In addition, an 11 Mt quota for cereal exports to countries outside the Eurasian Economic Union (EAEU) for the period from 15 February to 30 June 2022 would have been approved on 17 December 2021.
In addition to this, an 11 Mt quota for cereal exports to countries outside of the Eurasian Economic Union (EAEU) would have been approved on December 17, 2021 for the period comprised from February 15 to June 30 2022 .
The export quota for wheat and triticale would have been set at a total of 8 Mt, while the quota for aggregate exports of barley, corn and rye would be 3 Mt.
Such measures aim to ensure an adequate availability of staple foods within the domestic market and avoid price increases in commodities. Following the decrease in production in 2021(75.94 Mt and -11.6%), wheat shipments, which would represent 80% of total Russian exports on average, are expected to reach 3...
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