IKAR in Mass Media

Russian wheat prices rise as exports continue

26 апреля 2022 года

April 25 (Reuters) - Russian wheat export prices rose last week amid ongoing shipments from the country's Black Sea ports, analysts said on Monday.

Russia, one of the world's largest wheat exporters, continues to export despite difficulties with logistics and payments caused by Western sanctions on Moscow over what Russia terms its "special military operation" in Ukraine.

Prices for wheat with 12.5% protein content for supply in May from Black Sea ports were up $10 to $380 free on board (FOB) at the end of last week, the IKAR agriculture consultancy said, adding the price range was wide.

Sovecon, another consultancy, said Russia exported 590,000 tonnes of grains last week, citing data from ports, compared with 630,000 tonnes a week earlier.

Russia's customs service has suspended publication of import-export data to avoid "speculation," it said last week.

Sovecon said last week that Russia would be able to increase exports in the new July-June season due to high carry-over stocks, a record crop forecast and the expiry of a state export quota.

Wheat prices in the domestic market fell amid weakening demand from consumers and exporters as well rising supply from farmers, Sovecon said, adding spring grains were planted on 1.8 million hectares as of April 19, unchanged from a year earlier.

Other Russian data provided by Sovecon and IKAR:

 Product:               Price at the end     Change from week
                           of last week:              earlier
 - Domestic 3rd class      16,275 rbls/t            -200 rbls
 wheat, European part          ($217.84)  
 of Russia, excludes                      
 delivery (Sovecon)                       
                                          
 - Sunflower seeds         41,325 rbls/t            -900 rbls
 (Sovecon)                                
 - Domestic sunflower     118,350 rbls/t            unchanged
 oil (Sovecon)                            
 - Export sunflower             $1,850/t                 +$50
 oil (IKAR)                               
 - Export sunflower       $1,900-2,000/t            unchanged
 oil (Sovecon)                            
 - Soybeans (Sovecon)      52,300 rbls/t          -1,600 rbls
 - White sugar,                 $858.7/t               +$40.6
 Russia's south                           
 (IKAR)                                   
 ($1 = 74.7120 roubles)

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

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