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Russian grain prices keep rising led by feed

18 ноября 2010 года

MOSCOW, Nov 1 (Reuters) - Russian grain prices continued rising last week led by feed grain due to a lower crop, analysts said on Monday.

The Institute for Agricultural Market Studies (IKAR) said it had lowered its forecast for this year's grain output to 59.7 million tonnes from 60 million tonnes. This is a decline from the 97 million tonnes harvested last year.

SovEcon agricultural analysts said that feed barley led the rise adding 300 roubles ($9.73) to 7,000 roubles per tonne EXW in the European part of Russia. Maize rose by 200 roubles to 7,700 roubles per tonne.

It said feed wheat and fourth-grade milling wheat rose by 175 roubles to 5,675 roubles per tonne and to 5,950 roubles per tonne, respectively. Third-grade milling wheat rose by 100 roubles to 6,225 roubles.

IKAR said third-grade wheat rose to $193 per tonne from $188 in southern Russia, fourth-grade wheat to $188 per tonne from $184, feed wheat to $185 per tonne from $180.

Feed barley rose by $2 and reached an incredible $215 per tonne, while maize increased by $9 to $252 per tonne, it said.

SovEcon said that the rise of maize prices may stop, as the government may buy 2 million tonnes of maize in Ukraine. IKAR forecasts Russia will sow 13.9-14.1 million hectares with winter grains for the 2011 harvest. This is below the acreage sown in 2008 and 2009, but is equal to the average area of 2004-2008. The state of the plantings is highly questionable, it said.

SovEcon said average offer prices for sunseeds rose by 1,375 roubles to 20,625 roubles per tonne. But crushers are ready to pay no more than 20,000 roubles per tonne including delivery.

IKAR said sunseed purchase prices stopped rising and even fell slightly in some regions, with most prices ranging between 19,500 roubles and 20,000 roubles per tonne.

Sunoil prices rose by 3,000 roubles per tonne last week to 44,235 roubles per tonne, SovEcon said, adding that it expected more active shipments of Ukrainian sunoil, which may put an end to the rise.

Sugar prices were stable last week in rouble terms at 29,200 roubles per tonne in Krasnodar, while they rose to $952 from $950 per tonne in dollar terms.

Source: Reuters  |  #grain   |  Comments: 0   Views: 41

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