IKAR in Mass Media

Russian wheat falls, tracking global benchmarks

MOSCOW, Dec 20 (Reuters) - Russian wheat prices fell for a third consecutive week last week, tracking lower prices in Chicago and Paris and after only a small reduction in Russia's upcoming grain export quota, analysts said on Monday.

Russia plans to set its wheat export quota at 8 million tonnes for Feb. 15 to June 30, 2022, the country's economy ministry said on Friday, marking a 1 million tonne reduction from a previously planned level.

Russian wheat with 12.5% protein loading from Black Sea ports for supply in late December or early January was quoted at $329 a tonne free on board (FOB) at the end of last week, down $5 from the previous week, the IKAR consultancy said.

Sovecon, another consultancy, pegged wheat down $3 to $335 a tonne, while barley fell by $5 to $299 a tonne.

Russian wheat exports are down by 37.5% since the start of the 2021/22 marketing season on July 1, due to a smaller crop and an export tax, which will rise to $94.0 per tonne this week.

The formula of this tax will have a higher multiplier if prices rise to $375 per tonne and the multiplier will rise further if prices reach $400 per tonne, a proposal on the state website for regulations showed on Friday.

Other Russian data provided by Sovecon and IKAR:

 Product:               Price at the end     Change from week
                           of last week:              earlier
 - Domestic 3rd class   15,075 roubles/t            -125 rbls
 wheat, European part          ($202.76)  
 of Russia, excludes                      
 delivery (Sovecon)                       
 - Sunflower seeds         35,850 rbls/t            -900 rbls
 (Sovecon)                                
 - Domestic sunflower      85,675 rbls/t            -650 rbls
 oil (Sovecon)                            
 - export sunflower             $1,295/t                 -$80
 oil (Sovecon)                            
 - export sunflower             $1,315/t                 -$60
 oil (IKAR)                               
 - soybeans (Sovecon)      43,300 rbls/t          -3,100 rbls
 - white sugar,                 $645.6/t                  +$3
 Russia's south                           
 (IKAR)                                   
 ($1 = 74.3497 roubles)

21 декабря 2021 года

Source: Reuters | #grain | Comments: 0 Views: 18

There are no comments yet. Be the first!

Only authorized users can comment.