IKAR in Mass Media

RUSSIAN WHEAT EXPORT PRICES UP ON STRONG DEMAND, FIRM ROUBLE

26 апреля 2016 года

MOSCOW: Russian wheat export prices rose last week on high demand from traders buying wheat to fulfil previously agreed contracts and thanks to a strengthening rouble, analysts said on Monday.

Black Sea prices for Russian wheat with 12.5 percent protein content were $185 a tonne on a free-on-board (FOB) basis at the end of last week, up $2 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 at $186 per tonne, up $2.50.

Russia exported 29.4 million tonnes of grains, including 21.4 million tonnes of wheat, between July 1 and April 13, the agriculture ministry said. The pace of grain exports was up 9 percent year on year.

IKAR said Russia had already exported 820,000 tonnes of pulses since July 1, more than in the whole 2011/12 season when its exports reached a previous record of 798,000 tonnes.

Russia's grain stocks at farms as well as at procurement and processing companies, excluding small farms, were up 1.6 percent from a year earlier at 23.3 million tonnes as of April 1, data from the statistics service Rosstat showed.

Weather conditions remained favourable, SovEcon said. Farmers have already sown spring grains on 9.2 percent of the planned area, or on 2.8 million hectares. The pace of sowing is higher than a year ago.

Thanks to the favourable weather, SovEcon upgraded its forecast for Russia's 2016 grain crop to 103 million tonnes from a previously expected 98 million. Its wheat crop forecast was upgraded by 2 million tonnes to 59 million tonnes.

Domestic prices for third-class wheat remained at 10,675 roubles ($158) a tonne compared with the end of the previous week 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 fell 850 roubles to 23,725 a tonne. Domestic sunflower oil prices fell 600 roubles to 53,325 roubles a tonne, while FOB Black Sea export prices were flat at $785 a tonne.

IKAR's white sugar price index for southern Russia was $594 a tonne at the end of last week, up $2.50 on a week earlier.

Source: Reuters | #grain | Comments: 0 Views: 53

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