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IKAR in Mass Media

Russian grain export price up slightly, less demand

20 мая 2010 года

MOSCOW, April 19 (Reuters) - Some Russian grain export prices edged up last week, while exporters' demand started to decline, analysts said on Monday. Domestic prices were little changed.

The export price for ordinary milling wheat with 11.5 percent protein content rose by $1 to $172 per tonne FOB Novorossiisk, the Institute for Agricultural Market Studies (IKAR) said in a weekly note.

It said prices at the shallow water ports of the Azov Sea and Don river were mostly unchanged, but some strengthening of prices was noticed for wheat with protein content of 13.5 percent it said.

SovEcon agricultural analysts said fourth-grade (ordinary) wheat CPT prices (including delivery to) Novorossiisk rose to 4,500-4,800 roubles ($150.6-$160.6) per tonne from 4,300-4,700 roubles a week before.

"But some market players say exporters' demand is petering out, possibly after they have replenished their stocks to fulfil already signed contracts," it said.

Russian grain exports between the start of the crop year and April 10 were estimated at 16.46 million tonnes down from 17.81 million a year ago, IKAR said.

In the first 10 days of April exports were just 430,000 tonnes, while in the whole of April last year the country exported 2.17 million tonnes.

Domestic grain prices were largely stable, SovEcon said.

Sovecon said it did not expect grain prices to rise, as it was not convinced that the global prices will show an upward trend because of high stocks, good weather for the spring sowing in the United States and good state of winter grains there.

Sunseed purchase prices were unchanged at $405 per tonne, while crude sunoil domestic price rose to $870 from $866 per tonne, IKAR said.

SovEcon said average sunseed price offers declined in rouble terms to some 475 roubles per tonne to 11,425 roubles. Sunoil prices lost 100 roubles to 25,375 roubles per tonne.

It said sunoil prices were likely to keep declining with exports being slow and stocks at crushers high.

Soybean prices were stable at $561 per tonne. Soyoil slightly declined by $4 to $794 per tonne. Soymeal prices were basically unchanged at $650 in Belgorod, IKAR said.

A long awaited white sugar price rise started on the domestic markets with ex-mill prices in Krasnodar reaching $826 last week, up from $809 per tonne a week before, IKAR said.

The situation remained tense, it said. On the one hand, an intensification of import activities was expected after the raw sugar import duty falls to $50 per tonne from $140 from May 1.

On the other, whites stocks were extremely thin while the seasonal May holidays demand hike approached, IKAR said, adding that it expected a further price rise before a plunge sometime in May.

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

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