IKAR in Mass and Industry Media

Russia wheat pegged at $295/T FOB, exports 10 mln t

Reuters

GELENDZHIK, Russia, June 8 (Reuters) - Export prices for Russian wheat stood at $295 per tonne FOB basis in the key Black Sea port of Novorossiisk, and should climb only slightly when exports re-open in July, a top analyst said on Wednesday.

Dmitry Rylko, general director of the Institute for Agricultural Market studies (IKAR) told a Grain Union conference in the Black Sea resort of Gelendzhik he saw FOB prices at $300 per tonne by Aug. 1.

He said Russia could export 10 million tonnes of wheat in the coming crop year.

"This (10 mln T) is the same as the U.S. government forecast," Rylko said.

"We can expect a higher yield in the south, and a little bit under in the central and Volga regions. In the Urals we expect higher than usual, and in Siberia we expect an average yield."

17.06.11

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