Russia grabs more of barley market as supplies dip elsewhere

Moscow

SMALLER barley harvests from Europe to Australia are helping Russia offload its bumper crop faster than anywhere else.

Russian exports of the grain used mostly for animal feed surged 60 per cent so far this season, government data show. For the whole of 2017-18, the country's sales will jump more than any other major shipper, while global exports fall to a four-year low, according to the US Department of Agriculture (USDA).

World output is falling, partly as dry weather hurts crops in Australia and a heat wave was followed by heavy rains in parts of the European Union - the top two exporters. With the market heading for a second consecutive shortfall, global inventories will shrink to their lowest level in more than three decades. That's giving top producer Russia a chance to grab m…