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Russian grain prices rise ahead of holidays

Reuters, 16.12.10


MOSCOW, Dec 6 (Reuters) - Russian grain prices rose last week on limited supply and heavy consumer buying ahead of the long New Year holidays, analysts said on Monday.

"Barley, which added 350 roubles ($11.21) to 7,975 roubles per tonne (offer price EXW, European Russia) led the race," SovEcon agricultural analysts said in a weekly note. "Other cereals rose by 150-160 roubles".

Prices rose in European Russia and in Western Siberia, the Institute for Agricultural Market Studies said in its note.

In the south of Russia, third-grade wheat rose to $210 per tonne from $202; fourth-grade wheat to $197 from $195; feed wheat to $191 from $190; feed barley to $235 from $231 with practically no deals struck; maize to $260 from $259, it said.

Prices in Western Siberia were in a wide range as producers were unwilling to sell as prices were rising. They indicated prices for third-grade wheat at $240-$260 per tonne, IKAR said.

The steep price rise in Siberia has cut the competitiveness of Siberian cereals in European Russia, SovEcon said.

The rise of maize and barley prices may stop if imports from Ukraine and from Latin America start, it said.

"Import are still slow, as only 170,000 tonnes of grain have been imported so far, including 63,000 tonnes of malting barley and nearly 100,000 tonnes of rice," IKAR said.

SUNSEEDS UP

Sunflower seed prices rose to $703 per tonne from $690, while the crude sunoil price weakened to $1,539 per tonne from $1,544, IKAR said.

By the end of November, Russia imported 90,000 tonnes of crude sunoil from Ukraine, which made the country a net importer of this commodity. Soybean prices in southern Russia remained at around $520-$530 per tonne, it said.

Average rouble prices for sunseeds rose by 425 roubles to 22,000 roubles per tonne and for sunoil by 600 roubles to 49,425 per tonne, SovEcon said.

White sugar rouble prices were stable in Krasnodar at 32,000 per tonne, while dollar prices declined slightly due to the dollar strengthening to $1,021 per tonne from $1,023, IKAR said.



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