Main page   About us  |  Our news  |   Our services  |  Contacts
Main page guide Feedback RSS       In Russian



   IKAR in Mass Media
   Market prices
   Graphically speaking
   Market studies



   About us
   Our news
   Our services

IKAR in Mass and Industry Media

Loss of Egyptian tender puts brakes on Russian wheat price growth

Reuters, 04.02.19

MOSCOW, Feb 4 (Reuters) - A rise in Russian wheat export prices stalled last week after three weeks of growth as the country lost a major purchasing tender in Egypt, its largest wheat buyer, analysts said on Monday.

Egypt's state grain buyer GASC bought 360,000 tonnes of French and Romanian wheat in its tender last week. The Russian wheat on offer was too expensive to be competitive.

Black Sea prices for Russian wheat with 12.5 percent protein content and for delivery in February were $245 a tonne free on board (FOB) at the end of last week, unchanged from a week earlier, Russian agricultural consultancy IKAR said in a note.

SovEcon, another Moscow-based consultancy, pegged FOB barley at $233 per tonne, down $1.

The seasonal decline in grain supply from Russia has so far happened more slowly than SovEcon earlier anticipated, it said.

The country exported 31.4 million tonnes of grain from the start of the season on July 1 to Jan. 31, up 4 percent year-on-year, according to SovEcon. That included 26.7 million tonnes of wheat, up 13 percent.

It forecasts Russia's February exports of wheat, barley and maize (corn) at 2.45 million tonnes, down from 2.9 million tonnes in January.

Russian domestic wheat prices remained supported by high demand from exporters searching for supplies for previously agreed contracts and lower supply as some farmers are still holding back sales from their stockpiles in the hope of seeing further price growth in coming weeks, SovEcon said.

Domestic prices for third-class wheat rose by 375 roubles to 12,350 roubles a tonne at the end of last week in the European part of Russia on an ex-works basis. Ex-works supply does not include delivery costs.

Russia's Agriculture Ministry continued sales of grain from its stockpile last week, when it sold 154,000 tonnes of wheat. It has sold 1.4 million tonnes of grain, including 1.1 million tonnes of wheat, since the start of these sales this marketing year.

Sunflower seed prices rose by 450 roubles to 19,475 roubles a tonne, SovEcon said. Domestic sunflower oil prices rose by 350 roubles to 43,200 roubles a tonne, while export prices added $15 following growth in Ukrainian prices and reached $645 a tonne.

IKAR said its white sugar price index for southern Russia was $535.5 a tonne on Feb. 1, down $6.9 from a week earlier.

All viewing: 117

Where The Margin Is
Annual Conference Agribusiness
media feedback

IKAR is a member of International research project Agri Benchmark from May 2010

Agri Benchmark

Putin Is Growing Organic Power One T-34 Tank-Tomato at a Time

Grain | Cereals | Sugar | Oilseeds | Feedstuffs & Ingredients | Meat | Dairy

IKAR. Institute for Agricultural Market Studies.

© 2002-2020  
IKAR. Institute for Agricultural Market Studies
24, Ryazansky str., off. 604, Moscow, Russia
Tel/Fax: +7 (495) 232-9007 | |  Feedback

Rambler's Top100 Рейтинг
Google translate: Google translate: Russian Google translate: German Google translate: French Google translate: Italian Google translate: Portuguese Google translate: Spanish Google translate: Turkish Google translate: Lithuanian Google translate: Chinese Google translate: Korea