IKAR in Mass and Industry Media

Russia exports more wheat via Black Sea, domestic grain prices rise

Reuters

March 21 (Reuters) - Russia is exporting more wheat via its Black Sea ports as Azov Sea routes remain restricted, analysts said on Monday, while domestic prices for the grain rose last week because of the weakening rouble.

"Exports are active. If the weather permits - it is currently unstable in the Black Sea due to strong wind - Russia will export more than 2 million tonnes of wheat in March," said Dmitry Rylko, the head of the IKAR agriculture consultancy.

IKAR said prices for wheat with 12.5% protein content from the Black Sea ports were at $390 per tonne free on board (FOB), although Rylko said there were few new deals in recent days.

Sovecon, another consultancy, said: "Traders report some issues with payments from abroad when banks refuse to send money even to non-sanctioned institutions but the overall situation seems to improve."

Western countries have imposed sanctions on Russia over the Ukraine crisis.

Sovecon said Russia exported 520,000 tonnes of grains last week compared with 410,000 tonnes a week earlier.

"Russia continues to actively ship wheat, mainly from its Black Sea terminals," the consultancy said.

In the domestic market, prices for wheat in roubles rose sharply to reflect the Russian currency's depreciation against the dollar, Sovecon said.

Russia banned grain exports to some ex-Soviet countries last week, but promised to keep on providing licences to traders within its current quota for exports elsewhere.

Other Russian data provided by Sovecon and IKAR:

 Product:               Price at the end     Change from week
                           of last week:              earlier
 - Domestic 3rd class             16,150            +550 rbls
 wheat, European part    roubles/t($154)  
 of Russia, excludes                      
 delivery (Sovecon)                       
 - Sunflower seeds         39,125 rbls/t          +1,100 rbls
 (Sovecon)                                
 - Domestic sunflower      98,350 rbls/t          +6,675 rbls
 oil (Sovecon)                            
 - Soybeans (Sovecon)      47,000 rbls/t          +2,100 rbls
 - White sugar,                 $744.3/t                +$163
 Russia's south                           
 (IKAR)                                   
 ($1 = 104.8595 roubles)

22.03.22

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