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Growth in Russian wheat export prices slowed last week

Reuters, 12.03.18


MOSCOW, March 12 (Reuters) - Growth in Russian wheat export prices slowed last week in step with the trend in global markets, analysts said on Monday.

Black Sea prices for Russian wheat with 12.5 percent protein content were at $208 a tonne on a free-on-board (FOB) basis at the end of last week, up from $207 a week earlier, Russian agricultural consultancy IKAR said in a note.

SovEcon, another Moscow-based consultancy, quoted FOB wheat prices in the Black Sea area also at $208 per tonne. But the price was down compared with its previous week estimate of $209.5 a tonne.

Last week, prices were up by $4 and $6 per tonne respectively as concerns about damage to crops from dry weather in the U.S. Plains boosted prices for Chicago Wv1 and Paris BL2K8 wheat.

Domestic prices for third-class wheat were flat at 8,625 roubles compared with the end week earlier in the European part of Russia on an ex-works basis, according to SovEcon. Ex-works supply does not include delivery costs.

Sunflower seed prices were at 19,875 roubles per tonne, down by 125 roubles, SovEcon said, while domestic sunflower oil prices were at 43,075 roubles per tonne and export oil prices were at $745 per tonne.

IKAR's white sugar price index for southern Russia was up at $477.88 a tonne from $474.92 a week earlier.



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