In Ireland, forward prices for barley crops this year are under pressure from the large amount of barley left in storage. Approximately 100,000 tons of old-crop barley remains in retail and farm stores across the country.

Last fall, the harvested barley was held by producers, since prices after the harvest jumped sharply. However, due to a decrease in feed demand and an increase in the supply of cheaper imported corn, the market collapsed in January.

According to Eurostat, in January alone, Ireland imported 157,000 tons of corn from non-EU countries, with Canada, Ukraine and Russia being the main sources of this product.

Producers are now worried that stocks of barley, which make up about 5% of last year’s grain crop and amount to 1.7 million tons, are putting downward pressure on forward prices for this year’s crop.

Glanbia's forward price for barley last week was 145 euros per tonne for green barley. This is 15 euros lower than the price of November last year. John Bergin, RH Hall feed importer, based on current market information, claims that grain prices for new crops could fall even further.

Mark Brown, chairman of the Irish Grain Farmers Association, said grain producers were furious because many producers did not use local barley in their diets. “Many producers remain with stores full of barley due to the import of feed ingredients,” Brown said.

Prices for dried barley in Ireland have now fallen to 180-185 euros per ton, but demand is falling, while imported corn is being sold for 178-180 euros per ton.