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Where the margin is 2021

Where the margin is 2021
February 11-12, 2021, Moscow

IKAR in Mass and Industry Media


Russian wheat prices edge up as officials prepare grain export quota

Reuters, 17.11.20


MOSCOW, Nov 16 (Reuters) - Russian wheat export prices edged up last week for the second consecutive week as the agriculture ministry released a draft of its plan to introduce a grain export quota, analysts said on Monday.

Russian wheat with 12.5% protein loading from Black Sea ports was at $254 a tonne free on board (FOB) at the end of last week, up $1 from the previous week, the IKAR and Sovecon agriculture consultancies said.

Barley rose by $1 to $215 a tonne, Sovecon added.

Russia's agriculture ministry plans to set the grain export quota at 15 million tonnes for Feb. 15 to June 30, 2021, it said last week. Its draft proposal is yet to be approved by the government.

The quota is going to be distributed among exporters based on their share in July-December grain exports. It provides traders with a stimulus to export more until January to secure a bigger quota, but is overall neutral for the market, Sovecon said.

Russia has already exported 20.1 million tonnes of grain since the start of the 2020/21 marketing season on July 1.

Russian prices for sunflower seeds and sunoil rose sharply last week as the government considers export curbs.

Sovecon said several traders had told it about delays in obtaining phytosanitary certificates needed for exports of sunseeds in recent days.

Other Russian data provided by Sovecon and IKAR:

 Product:            Price at the end       Change from week
                        of last week:                earlier
 - Domestic 3rd         16,050 rbls/t               -25 rbls
 class wheat,                  ($208)  
 European part of                      
 Russia, excludes                      
 delivery                              
 (Sovecon)                             
 - Sunflower seeds      35,150 rbls/t            +2,025 rbls
 (Sovecon)                             
 - Domestic             78,675 rbls/t            +2,250 rbls
 sunflower oil                         
 (Sovecon)                             
 - export                    $1,070/t                   +$80
 sunflower oil                         
 (Sovecon)                             
 - export                    $1,045/t                    n/a
 sunflower oil                         
 (IKAR)                                
 - Soybeans             34,650 rbls/t              +450 rbls
 (Sovecon)                             
 - white sugar,              $544.7/t                  -$3.4
 Russia's south                        
 (IKAR)                                
 ($1 = 77.1000 roubles)


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