IKAR in Mass and Industry Media

Russian wheat export prices up on stronger rouble, increased demand

Reuters

MOSCOW: Russian wheat export prices rose slightly last week on the back of increased demand from buyers and a stronger rouble, analysts said on Monday.

Black Sea prices for Russian wheat with 12.5 percent protein content were at $173.50 a tonne on a free-on-board (FOB) basis at the end of last week, up $2.50 from a week earlier, Russian agricultural consultancy SovEcon said in a note.

"According to traders, deliveries to ports have picked up and importers' interest in Russian wheat has increased," SovEcon said in a note.

IKAR, another Moscow-based consultancy, quoted FOB wheat prices in the Black Sea area at $170 per tonne, up from $169 a week earlier.

Russia exported 10.4 million tonnes of grains, including 8.6 million tonnes of wheat, between July 1 and Oct. 5, the agriculture ministry said.

Domestic prices for third-class wheat were up 75 roubles compared with the end of the week earlier at 10,225 roubles ($164.32) a tonne in the European part of Russia on an ex-works basis, according to SovEcon. Ex-works supply does not include delivery costs.

New crop sunflower seed prices fell by 425 roubles to 21,825 roubles per tonne, SovEcon said, while domestic sunflower oil prices fell by 400 roubles to 49,425 roubles and export oil prices were down $5 at $755 per tonne.

IKAR's white sugar price index for southern Russia fell to $601.06 a tonne at the end of the week, down from $625.40 a week earlier.

11.10.16

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