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→ IKAR in Mass Media → #115 IKAR in Mass MediaRussian food grain prices rise, feed grain edges up05 сентября 2008 года MOSCOW, Aug 25 (Reuters) - Russia's milling grain prices kept rising last week on low supply caused by poor crop quality and demand from exporters and domestic flour mills. Some feed grains prices also rose, analysts said. Third-grade milling wheat lead the race, gaining 150 roubles ($6.17) per tonne on average, while fourth-grade rose by some 50 roubles per tonne, SovEcon agricultural analysts said. Third-grade wheat prices rose to $248 per tonne, and fourth-grade to $218 per tonne, the Institute for Agricultural Market Studies (IKAR) said. Domestic feed grain prices have apparently reached a virtual rock bottom and moved up from there. In the south of Russia, both feed wheat and feed barley gained about $4-5, reaching $176 and $156 per tonne, respectively, IKAR said. SovEcon said that market players noted rising exporters' interest towards feed barley. Supply is rather low as favourable weather has increased the share of malting barley. Traders expect malting barley prices to be relatively low this season. The government intervention tenders, at which only offers to buy milling grain appeared so far, have failed to support feed wheat prices. But some traders were buying feed wheat to mix it with fourth-grade milling wheat, it said. Russian grain exports progressed at record speed. The country has already exported about 2.15 million tonnes of grain since the start of the season on July 1, including 1.9 million tonnes of wheat, IKAR said. Oil crushers declared bid prices for the new crop of sunseed within the range of 8,500-10,000 roubles per tonne, compared with last year's starting price of 12,000, as this year's crop is expected to be close to record highs, SovEcon said. The biggest domestic crushers set prices in the range of 8,000-9,000 roubles per tonne, IKAR said. But it added that some traders are worried about a prolonged period of hot and dry winds in the eastern part of southern Russia. Domestic crude sunoil prices decreased to $34,000 per tonne, IKAR said. Sunoil lost 2,000 roubles on the average, SovEcon said. Buyers are not in a hurry to buy old crop sunoil, waiting for the new crop sunoil to appear on the market. Domestic prices are under a bearish trend also because of a substantial decrease in world vegetable oil prices. Sugar prices went further down with the start of the sugar beet harvest campaign with continued processing of imported raw cane sugar. Source: Reuters | #grain | Comments: 0 Views: 46
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