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IKAR in Mass Media

Russia

30 сентября 2013 года

MOSCOW, Sept 30 (Reuters) - Russian wheat export prices rose last week, supported by a government restocking campaign and concerns over rain, which is delaying harvesting, analysts said on Monday, signalling more risks to the country's plan to boost exports.

Russia, one of the world's key wheat exporters, needs a good harvest this year to replenish state stocks and boost its exports after last year's drought, although the crop is coming in at a lower quality.

Russia's export prices for wheat with 12.5-percent protein content rose to $253 per tonne last week from $252 a week earlier in the Black Sea on a free-on-board (FOB) basis, the Institute for Agricultural Market Studies (IKAR) said in a note.

Some exporters quoted December futures prices at between $258 and $260 per tonne, IKAR added.

The country is expected to boost its 2013/14 grain exportable surplus by one third to about 20 million tonnes, of which it exported 2.5 million tonnes of grains, including 2.1 million tonnes of wheat, between July 1 and Sept. 25.

Russian prices for third-class wheat were down 200 roubles at 7,900-8,200 roubles ($240-250) per tonne in deep-water ports on a carriage paid-to basis (CPT) last week, according to SovEcon agriculture analysts.

Prices for fourth-class wheat were up 100 roubles at 7,500-7,900 roubles per tonne in Novorossiisk and up 200 roubles at 7,200-7,500 roubles per tonne in shallow-water ports on a CPT basis, it added.

Russia hopes to increase its wheat harvest by a third to about 50 million tonnes in 2013 and has already threshed 47.8 million tonnes as of Sept. 27. The harvest has been delayed by rain in some regions, which has also put the winter grains sowing campaign behind schedule.

The government restocking programme, which is expected to start on Oct. 8, is aimed at securing up to 6 million tonnes of grains for the 2013/14 marketing year, a target which analysts expect to be missed.

The government plans to hold restocking purchases twice a week to support prices in Russia's Asian territories and aims to buy up to 3 million tonnes by the end of December.

Domestic prices for sunflower seeds continued to decline and were quoted at 11,050 roubles per tonne last week, down 150 roubles on a CPT basis in the North Caucasus region, SovEcon added. IKAR said its price index fell 190 roubles to 10,800 roubles.

Export prices for sunflower oil were up $20 at $870-880 per tonne on a free-on-board (FOB) basis in the Black Sea, SovEcon added, while IKAR quoted export crude sunoil price up $15 at $855 per tonne.

Rain also continued to delay sugar beet harvest, supporting domestic sugar prices, IKAR said. Its Krasnodar price index was flat at 22,500 roubles per tonne.

($1 = 32.3337 Russian roubles)

Source: Reuters  |  #grain   |  Comments: 0   Views: 84

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