Australia’s crop 25/26 barley exports – record shipments, but still plenty in the bin.

The Australian barley export program set consecutive records in the months of January and February and is forecast for more record months as the crop 25/26 shipping program winds up towards the middle of the year.

After a record barley production of over 16mmt, demand from China for both feed and malt barley has been significant, with this destination once again taking the ‘dragon’s’ share of the crop, importing a third of the total Australian barley crop since October 2025. Saudi Arabia has returned as a significant destination for Australian feed barley this marketing year based on that country’s high feed demand and competitive pricing from the exporting states of South and Western Australia. Asian countries (excluding China) continue to be reliable malt barley markets for the Australian industry and the newer markets of Latin America are holding up.

While the export pace is nothing short of amazing, the Australian barley supply chain still has plenty in the bin. According to Abares March report, crop 25/26 production was 16.3mmt and on the estimates of MaltNews in March, there is an exportable surplus of 11mmt. If opening and closing stocks balance, this should mean there is another 6mmt to export from March. March and April are expected to be record months and we know domestic demand is showing an uptick in the north that will cannibalise exports.

With a hot northern Australian domestic barley market and strong AUD driving Australian prices higher, it will be interesting to monitor exports in the last quarter of the marketing year and ending stocks.