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→ IKAR in Mass Media → #136 IKAR in Mass MediaRising Russia grain prices cut government purchases24 февраля 2009 года MOSCOW, Feb 2 (Reuters) - Higher Russian grain prices discouraged producers from selling grain to the government last week, analysts said on Monday. The standard wheat export price rose to $200 per tonne FOB, Novorossisk, the Institute for Agricultural Market Studies (IKAR) said. Exporters' demand for grain remained active last week. Bid prices for fourth-grade milling wheat were in the region of 5,800-6,000 roubles ($163.8-$169.4) per tonne CPT, Novorossiisk, SovEcon agricultural analysts said. It said domestic demand also rose last week. Distillers and animal breeders joined millers, who intensified purchases in the last few weeks. Some processors were trying to build up stocks awaiting higher prices. IKAR believes that domestic wheat prices have gained in rouble terms, but remained almost unchanged in dollar terms. But there was a substantial increase in dollar feed barley and maize prices, which rose to $103 and $108 per tonne, respectively, in southern Russia. The volume of grain purchased by the government last week shrunk to less than 300,000 tonnes, compared with 0.5 million and 0.6 million tonnes in the preceding weeks, as the purchase prices were becoming less tempting. "Highly disappointing results, especially regarding food wheat complex," IKAR said. "Grain stocks holders kept sales at low volumes awaiting higher prices. Such tactics may have some reason in short term. But if exporters and processors reduce purchases then market may stabilise and then go down," SovEcon said. Sunseed prices kept sellers happy last week as average offer prices added some 650 roubles per tonne, SovEcon said. The main reason behind the rise were favourable world sunoil prices and high export levels. Major crushers raised sunseed purchase prices to $245-270 per tonne, while some deals were made at even higher levels, IKAR said. Domestic sunoil export prices, increased to $720 per tonne, FOB, Novorossisk. Domestic crude oil prices were catching up and reached $670-710 per tonne, ex-works, it said. Unpacked crude sunoil rose by some 1,000 roubles per tonne, SovEcon said. Rouble-denominated white sugar prices were unchanged, while prices in dollar terms plunged last week to $565 per tonne in Krasnodar from $604, IKAR said. Stocks remained quite big, while seasonal demand was weak, it said. Source: Reuters | #grain | Comments: 0 Views: 45
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