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ABARES raised its Australian barley production estimate to 10.5 mmt for MY 2023/24, though this is still down 26% year on year on lower yields. China removed its 80.5% tariff on Australian barley in August, and Australia exported 428,542 mt to China in August and September.
Reopened Chinese demand for Australian barley supports export prices, though the 26% production decline keeps supplies tight for feed buyers.
tridge.comPutri AisyahNov 30, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
