IKAR in Mass and Industry Media

Russian wheat prices firm ahead of holidays

Reuters

MOSCOW, Dec 26 (Reuters) - Russia's export and domestic grain prices firmed last week as traders and processors built up stocks ahead of the long holidays for the New Year and Orthodox Christmas, analysts said on Monday.

FOB prices of ordinary milling wheat with 11.5 percent protein content rose to $237 per tonne at Black Sea portsfrom $236 the week before, while wheat with 12.5 percent protein content rose to $243 per tonne from $242, the Institute for Agricultural Market Studies (IKAR) said in a weekly note.

It said exports between July and mid-December reached a record volume of 16.7 million tonnes, including 14.1 million tonnes of wheat.

SovEcon agricultural analysts said that traders at deep sea ports also raised CPT prices (including delivery) to 7,300-7,500 roubles ($230-$240) per tonne from 7,300-7,400 roubles.

Traders were experiencing logistic difficulties with deliveries to ports, and they have intensified purchases on a CPT basis, it said.

SovEcon said average EXW (ex-silo) prices for the benchmark third-grade milling wheat rose by 25 roubles to 6,050 roubles per tonne, for fourth-grade by 75 roubles to 5,900 roubles and for feed wheat by 75 roubles to 5,325 roubles in the European Russia.

Sunseed prices firmed last week by 350 roubles to 10,800 roubles per tonne as crushers raised prices, SovEcon said.

Sunoil domestic prices declined by 150 roubles to 33,425 roubles per tonne, while export prices (FOB Black Sea) remained unchanged at $1,050-$1,080 per tonne, it said.

"Although sunseeds prices kept rising, the rise has slowed as supply has increased. Producers decided that prices were adequate and started selling," IKAR said.

"Sunoil market was no longer active and traders were only executing already signed contracts."

($1 = 31.2 Russian roubles)

19.02.12

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