IKAR in Mass Media

Russia's Export-Wheat Prices Seen by Ikar at Post-Soviet Record

25 сентября 2012 года

Sept. 25 (Bloomberg) -- Prices of Russian wheat for export reached the highest since the collapse of the Soviet Union more than two decades ago, according to the Institute for Agricultural Market Studies, or Ikar, after dry weather curbed production.

Prices climbed to about $340 per metric ton this week, Dmitry Rylko, Ikar's general director, said today by phone from Moscow. Grain production is set to decline about 23 percent this year because of dry weather, according to Agriculture Minister Nikolai Fedorov.

Russia, the third-largest wheat exporter last season, may curb shipments should prices keep rising, Economy Minister Andrei Belousov said Sept. 21. Export restrictions are ``not expedient'' Interfax reported, citing Deputy Prime Minister ArkadyDvorkovich. Russia in 2010 banned overseas sales for almost a year after the country's worst drought in a half century damaged the crop.

Fourth-grade wheat prices at the port of Novorossiysk on the Black Sea reached 11,200 rubles ($342) per ton yesterday, Vedomosti reported, citing grain traders.

Source: Bloomberg | #grain | Comments: 0 Views: 44

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