Ukraine exported 432,000 tons of barley in January 2024, which is a record figure for the current season.

This was discussed on February 6 during the weekly briefing organized by the analytical center of the First Ukrainian Agricultural Cooperative "FUAC", created within the UAC.

"Barley was a relatively cheap grain crop, and it was eagerly bought by the EU and China. The low price explains the high demand and record exports in January – 432,000 tons. We have already contracted 150,000 tons for February. But the situation may change in the future. Barley is now losing out to other feed crops: wheat and corn. These crops fell in price, while barley remained unchanged. On the FOB and CIF markets, barley is priced at the price of corn, and this is a negative point. For the Italian market, for example, barley is priced at USD210-212 per ton. Corn prices are at the same level. The usual spread between these fodder crops should be USD10-15 per ton, meaning barley should be cheaper than corn, but now prices are at the same level. In China, the situation is similar: both barley and corn are priced at USD240 per ton. Under such conditions, China would rather choose corn than barley. In the future, there are possible scenarios that either corn will rise in price or barley will decline," is said by the analytical department of PUSK.

In March-April, the demand for barley can be expected to fall.

"Due to the fact that the price of barley has increased significantly compared to other fodder crops, in March-April the demand for this grain in the world may be very low.  It seems that the price peak of barley is over. In February, barley prices will be in the range of USD155-160 per ton, but in March-April, the price is likely to decline as demand may be stagnant," the analysts added.