IKAR in Mass and Industry Media

Russian wheat export prices flat on weak demand

Reuters

MOSCOW - Russian wheat export prices were flat last week due to weak demand and the rouble's volatility, analysts said on Monday.

Black Sea prices for Russian wheat with 12.5 percent protein content were at $182 a metric ton on a free-on-board (FOB) basis at the end of last week, unchanged from a week earlier, Russian agricultural consultancy IKAR said in a note.

SovEcon, another Moscow-based consultancy, quoted FOB wheat prices in the Black Sea area at $181.5 per metric ton, up $0.50.

However, prices in the Azov Sea jumped $8 to $167 per metric ton thanks to high demand, IKAR added.

Russia exported 28.1 million metric tons of grains, including 20.6 million metric tons of wheat, between July 1 and March 30, the agriculture ministry said. Grain exports were up 7 percent on a year ago.

Domestic prices for third-class wheat fell 200 roubles compared with the end week earlier to 10,725 roubles ($156) a metric ton in the European part of Russia on an ex-works basis, according to SovEcon. Ex-works supply does not include delivery costs.

Russia's grain stocks at farms and at procurement and processing companies, excluding small farms, were up 5.4 percent from a year earlier to 27.5 million metric tons as of March 1, data from the statistics service Rosstat showed.

SovEcon also said average prices for sunflower seeds were down 250 roubles at 24,600 roubles a metric ton. Domestic sunflower oil prices fell 825 roubles to 54,175 roubles a metric ton, while FOB Black Sea export prices were flat at $780 a metric ton.

07.04.16

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