IKAR in Mass and Industry Media

RUSSIAN WHEAT EXPORT PRICES RISE, REFLECTING STRONGER GLOBAL MARKETS

Reuters

MOSCOW: Russian wheat export prices have risen for the ninth consecutive week, reflecting stronger global markets, analysts said on Monday.

US wheat rose on Monday to hit an 11-day high as expectations for reduced plantings and fears of continued dry weather pushed the grain to its longest unbroken rally in three weeks.

Black Sea prices for Russian wheat with 12.5 percent protein content for November supply were at $183 a tonne on a free-on-board (FOB) basis at the end of last week, up $2 from a week earlier, Russian agricultural consultancy IKAR said.

SovEcon, another Moscow-based consultancy, quoted FOB wheat prices up $3 to $182.5 a tonne and maize (corn) prices up $2 to $171 per tonne.

Russia exported 14.8 million tonnes of grains, including 11.7 million tonnes of wheat, between July 1 and Nov. 16, the agriculture ministry said. The pace of grain exports was down 4.6 percent year-on-year.

Domestic prices for third-class wheat were up 150 roubles on the week at 10,725 roubles ($166.5) 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 rose 525 roubles to 20,175 roubles a tonne, SovEcon said. Domestic sunflower oil prices added 175 roubles and reached 48,675 roubles, while export oil prices were down $5 at $755 a tonne.

IKAR's white sugar price index for southern Russia fell $28.5 last week to $539 a tonne as of Nov. 18.

22.11.16

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