by PressUK oats and barley production to rise this season
Oats and barley production will rise this season
UK oats and barley production has increased in the 2023-2024 season. However, crop volumes have not yet reached the average of the last 5 years. AHDB forecasts for the current season so far remain at the previous year’s levels. And this could change the import situation. According to analysts, the country will have to increase its purchases on the world market.
Last year’s oats production was 999 thousand tonnes, 169 thousand tonnes more than in 2023. The harvest increased in most regions of the UK, with the exception of the north-east, where production fell by 4%. However, the overall yield improved to 6.9 tonnes per hectare.
The UK will produce 7.2 million tonnes of barley in 2024, which is above the 2023 crop (6.9 million tonnes) but below the five-year average (7.5 million tonnes).
UK wheat production is forecast to fall this season. However, it will remain above the 2020 level, which was the country’s lowest on record. In 2024, the wheat harvest will be just over 11 million tonnes, almost 3 million tonnes lower than in 2023. Analysts cite wet weather at the start of the planting season as the main reason for the decline. They also believe that climatic conditions could play a significant role in lower production in 2025.
World price overview
The AHDB analysts also published forecasts for other crops. According to them:
1. May feed wheat futures closed at over £201/t.
2. This was down £2.25 from the previous month.
3. The fall in prices on the UK market followed a fall in prices on the Chicago exchange.
4. Wheat prices also fell by 0.25% on the Paris floor.
The fall in the cost of wheat is due to the revision of the FAS forecast for world stocks. It’s almost 258 million tons. Analysts believe the 2024-2025 season will be quite difficult for the global wheat market. Risk factors include lower expectations for major producers in Europe and dry weather threatening yields in Argentina and Australia.
Rapeseed futures on the Paris exchange also closed lower. The cost was around €495 per tonne. May contracts fell by €2 to €503 per tonne.
Vegetable oil and soya bean prices also showed a general downward trend. On the Chicago exchange, soya bean futures fell due to an increase in the US crop forecast. In addition, forecasters predict that heavy rains will occur in Brazil. It will benefit local production.