Given the atrocious weather conditions, I believe it would seem a bit ‘unwise’ to be fixing a price for 2024 malting barley supplies at the present time.
I walked tillage fields in three different counties earlier in the week, and ground conditions were bottomless.
The rain continues to fall from leaden skies, not just here but around Europe.
The reality is that all food commodity prices – including those for malting barley – will, inexorably rise over the coming weeks.
The shortage of any product drives prices forward, and food is no different in this regard.
Assuming the rain does stop within the next few days, it may well be the last week of April before any substantial acreage of malting barley is in the ground.
At that stage, the lateness of the planting date may well impact on final yields. This prediction still assumes that the weather plays fair for growers from the beginning of May through to final harvest.
We all know, this is a variable over which Irish farmers have no control, whatsoever.
I had the opportunity to attend the Irish Malting Barley Excellence Awards at St. James’ Gate a few weeks ago.
Malting barley
One of the points made at the event related to the mixing of 2022 and 2023 barley supplies as a means of getting that-all important brewing consistency, where the production of Guinness is concerned.
But, what happens if 2024 turns out to be another disastrous year for Irish malting barley growers? To be honest, given current conditions, one wouldn’t bet against it.
Under such circumstances would the Guinness ‘gurus’ be happy to blend the middling to poor barleys from 2023 with samples of an equally challenging nature that might be coming off Irish farms come September 2024.
Or, might they be of the view that barley imports from Europe or beyond could be a better option.
Under these circumstances, how would Irish farmers fit into the mix?
Earlier this week I was at the launch of the 2024 Balmoral Show where I heard the latest insight from Ulster Bank’s head of agriculture, Cormac McKervey.
He said that a week’s good weather at this time of the year would turn the fortunes – and the mood – in most farm businesses around – let’s hope he’s right.