IKAR in Mass Media

Russian wheat export prices fall on Egypt policy confusion

10 февраля 2016 года

Russian wheat export prices fell last week, undermined by worries about future supply contracts to world No. 1 importer Egypt, analysts said on Monday.

Black Sea prices for Russian wheat with 12.5 percent protein content were at $181 a tonne on a free-on-board (FOB) basis at the end of last week, down $1 from a week earlier, Russian agricultural consultancy IKAR said in a note.

SovEcon, another Moscow-based consultancy, quoted FOB wheat prices in the Black Sea area down 50 cents at $181 per tonne.

Egypt, the largest buyer of Russian wheat, has fought to reassure markets after weeks of confusion about import restrictions rattled traders and forced its state grain buyer to cancel two tenders.

Prices in the Azov Sea area, through which Russia supplies wheat to Turkey, increased slightly to $250 per tonne on stronger demand, IKAR said in a note.

Russia exported 22.5 million tonnes of grains, including 16.8 million tonnes of wheat, between July 1 and Feb. 3, the agriculture ministry said.

The pace of grain exports fell 4.4 percent on the year. Domestic prices for third-class wheat were unchanged at 11,325 roubles ($147.35) a tonne in the European part of Russia on an ex-works basis, according to SovEcon.

Ex-works supply does not include delivery costs. SovEcon also said average prices for sunflower seeds added 175 roubles to 26,425 roubles a tonne.

Domestic sunflower oil prices increased by 175 roubles to 59,175 roubles a tonne, while FOB Black Sea export prices fell $5 to $765 a tonne.

IKAR’s white sugar price index for southern Russia was at $586 a tonne at the end of last week, down $15 from a week earlier.

Source: Reuters | #grain | Comments: 0 Views: 68

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