IKAR in Mass Media

Russia grain prices edge up as demand improves

10 ноября 2009 года

MOSCOW, Oct 5 (Reuters) - Russian wheat export prices rose by $2 to $4 per tonne in the last week as demand showed the first signs of revival this season, although shipments remain below year-ago levels, analysts said. Ordinary wheat forward export prices rose to $162 per tonne from $160 in the last week, said the Institute for Agricultural Market Studies (IKAR). Higher quality wheat sold at $170 per tonne.

IKAR raised its forecast for Russian grain output in 2009 to 94 million tonnes, from a previous estimate of 93 million tonnes. The country produced 108 million tonnes last year, its biggest harvest in nearly two decades.

Russia last week sold 150,000 tonnes of wheat to Egypt's main government buyer, GASC, at a price of $170 per tonne. Moscow-based analysts SovEcon said this was $4 higher than the price it achieved in the previous tender.

"We can't compare demand with the levels seen last year, but some (exporting) companies have increased their purchase prices on fourth-grade wheat by 100 to 200 roubles per tonne," SovEcon said.

It said purchase prices had risen to 4,400-4,600 roubles per tonne, CPT Novorossiisk, and to 4,000-4,200 roubles per tonne, CPT, at shallow-water ports on the Azov Sea.

Domestic prices were lower to flat. SovEcon said third-grade milling wheat in the European part of Russia fell 125 roubles to about 4,000 roubles per tonne last week, while fourth-grade wheat shed 25 roubles to trade at $3,575 roubles per tonne.

IKAR said the decline in domestic grain prices seen over the last few weeks had practically stopped. The imminent start of government intervention tenders is also likely to stabilise Russian grain prices. Agriculture Minister Yelena Skrynnik said on Friday that interventions would begin this month.

Sunseed purchase prices declined to $306-313 per tonne, from $310-322 per tonne, due to the fast progress of the harvesting campaign and strong yields in the Black Earth region, IKAR said.

SovEcon said offer prices for sunseeds in the domestic market fell by 175 roubles to 10,175 roubles per tonne in the last week, tracking a decline in sunoil prices. Domestic sugar prices lost about $10 in value last week, slipping to $748 per tonne basis Krasnodar, IKAR said.

"We expect a further decrease over the next week," it said.

Source: Reuters | #grain | Comments: 0 Views: 36

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