IKAR in Mass Media

Russian wheat export prices fall due to lower global benchmarks

09 марта 2021 года

MOSCOW, March 9 (Reuters) - Russian wheat export prices fell last week after two weeks of growth due to lower prices in Chicago and Paris, analysts said on Tuesday.

Russian wheat with 12.5% protein loading from Black Sea ports for supply in March was at $285 a tonne free on board (FOB) at the end of last week, down $2 from the previous week, agriculture consultancy IKAR said.

Refinitiv said wheat prices fell by $3.5 to $283.5 per tonne. Sovecon pegged barley at $252 per tonne, up $1.

Russia doubled its wheat export tax to 50 euros ($59.5) ($60) per tonne starting from March 1. Sovecon expects Russia's wheat exports to slow to 2.0-2.5 million tonnes in March due to the higher tax.

A mild Russian winter has dramatically improved the condition of winter grain sowings, which were previously hit by a dry autumn, weather forecaster Hydrometcentre said last week, adding that 7-9% of sown winter grains were currently in a bad condition.

This estimate could be too optimistic and probably does not reflect ice-crust issues farmers have been experiencing in recent weeks, Sovecon said.

"Having said all that, we feel that our winter-kill estimate of around 16% starts to look too pessimistic. We are likely to revise it down by several percentage points," it added.

Following is a summary of other Russian data provided by Sovecon and IKAR:

 Product:            Price at the end       Change from week
                        of last week:                earlier
 - Domestic 3rd      13,900 roubles/t               +75 rbls
 class wheat,               ($188.03)  
 European part of                      
 Russia, excludes                      
 delivery                              
 (Sovecon)                             
 - Sunflower seeds      42,575 rbls/t              +625 rbls
 (Sovecon)                             
 - Domestic            101,850 rbls/t              +350 rbls
 sunflower oil                         
 (Sovecon)                             
 - export                    $1,500/t                   +$60
 sunflower oil                         
 (Sovecon)                             
 - export                    $1,530/t                   +$60
 sunflower oil                         
 (IKAR)                                
 - white sugar,              $611.2/t                 +$20.5
 Russia's south                        
 (IKAR)                                
 ($1 = 73.9256 roubles)
($1 = 0.8398 euros)

Source: Reuters | #grain | Comments: 0 Views: 9

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