date:Nov 19, 2012
Dry weather throughout Eastern Europe and Central Asia resulted in lower production in Russia, Kazakhstan and Ukraine which together produced 6.3Mt less than 2011, offsetting larger production elsewhere.
Demand is forecast to outstrip supply by just under 3Mt, although this is due to lower production rather than increased demand.
Demand rationing due to higher prices is likely to be in the feed sector rather than malting use. The stocks to use ratio is forecast to be the lowest since 2006/7 at