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Russia grain prices rise, barley leads charge -analysts

Reuters

MOSCOW, Oct 18 (Reuters) - Russian grain prices rose last week, led by barley, against a backdrop of a strong performance on global markets and the effect of severe drought that destroyed part of the crop, analysts said on Monday.

Barley prices in European Russia rose by 275 roubles to 6,500 roubles ($213.6) per tonne, SovEcon analysts wrote in a weekly note.

The Institute for Agricultural Market Studies (IKAR) also said that overall domestic feed barley prices rose to "an unprecedented" $205 a tonne from $202.

Milling rye prices rose by 350 roubles to 5,500 roubles per tonne, SovEcon also said.

Maize prices also gained, with SovEcon reporting prices up 150 roubles to 7,400 roubles per tonne and IKAR reporting a gain of $1 to $241 per tonne.

Wheat prices remained strong, with SovEcon reporting prices of various grades up by 50-100 roubles per tonne.

"In many regions wheat prices of various grades are actually the same which leads to milling wheat frequently being used for forage," SovEcon wrote.

The Russian government imposed a grain export ban from Aug. 15 to stabilise domestic prices after the worst drought in more than a century killed a significant part of the crop.

The IKAR sunseed price index rose to $566 to $606 per tonne, while crude sunoil increased from $1310 to $1373 per tonne.

White sugar prices resumed their upward trend, strengthening to $976 from $962, the institute added.

18.11.10

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