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→ IKAR in Mass Media → #143 IKAR in Mass MediaRussian grain prices rise on weak dollar27 марта 2009 года MOSCOW, March 23 (Reuters) - Russian grain prices rose last week in dollar terms due to the fall in the U.S. currency but continued to decline in rouble terms on high stocks and rising supply, analysts said on Monday. The domestic standard wheat forward export price has moved up by $7 to $170 per tonne, FOB Novorossiisk, the Institute for Agricultural Market Studies (IKAR) said. Exporters continued to lower bid prices denominated in roubles, SovEcon Agricultural Analysts said. They offered to buy fourth-grade (standard) wheat at 4,800-5,500 roubles ($141.9-$162.6) per tonne, CPT deep and shallow water ports, and maize at 4,300-4,400 roubles per tonne. SovEcon estimates March exports at 1.3-1.6 million tonnes, a high monthly volume. Since the beginning of the season in July 2008, Russian grain exports have exceeded 15.7 million tonnes, IKAR said. Last week's Egyptian tender showed a new price decline. Egypt bought 200,000 tonnes of Russian wheat at $164-$166 per tonne, which is a $8 decline from the previous tender. The government bought 172,000 tonnes of grain last week, up from 131,000 tonnes a week ago, which is unlikely to provide sufficient support to the market, SovEcon said. It believes that prices may decline further as large-scale sales of old crop grain have not started yet. Grains continued to lose values in roubles, while they have gained in dollars, IKAR said. Third-grade milling wheat rose to $164 per tonne, fourth-grade to $138 per tonne, and fifth-grade feed wheat to $111 per tonne ex-silo, southern Russia. Feed barley rose to $94 and maize to $111, it said. SovEcon said average fourth-grade wheat prices declined by 175 roubles per tonne and feed barley by 275 roubles per tonne, while other cereals lost 50-100 roubles per tonne. The government is discussing 2009/10 support prices for the intervention tenders, IKAR said. It has been decided to keep them close to levels of the preceding year, with lower feed barley prices. The price of third-grade wheat for delivery to western Siberia has yet to be clarified, it said. Crude sunoil export price has increased to $650-$655 mainly due to the weakening of the dollar with export activity remaining quite intensive, IKAR said. Domestic sunseed prices have risen and purchase activity has intensified in the middle of the week, but fell by the end of the week with prices ranging between $290-$305 per tonne at big crushers, IKAR said. SovEcon said in rouble terms average sunseed offer prices declined by 100 roubles per tonne and those of sunoil by 200 roubles per tonne. Dollar-denominated white sugar wholesale prices have increased to $662.3 per tonne from $640.43, ex-factory, Krasnodar, while prices in roubles decreased to 22.4 roubles per kg from 22.6 roubles, IKAR said. Beet sugar stocks remain quite high, while seasonal demand is relatively week. The market is waiting for a government decision on the levels of the new seasonal and basic raw sugar import duty, it said. Source: Reuters | #grain | Comments: 0 Views: 42
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