This site has limited support for your browser. We recommend switching to Edge, Chrome, Safari, or Firefox.

How are prices developing in Russia?

Как се развият цените в Русия?
Russian wheat export prices rose slightly last week amid some strengthening demand from importers and more favorable weather at shipping ports, analysts said.

The price of Russian wheat with 12.5% ​​protein scheduled for free board (FOB) delivery in January was $242 a tonne, up $1 from the previous week, agricultural consultancy IKAR said.

SovEcon filed similar information, setting the same grade of wheat at $238-242 per tonne FOB last week, compared with $237-241 per tonne a week earlier.

Algeria and Saudi Arabia were actively buying wheat last week, including wheat originating in the Black Sea region.

Russia exported 780,000 tonnes of grain last week, up from 690,000 tonnes the previous week. Exports included 680,000 tonnes of wheat, compared with 610,000 tonnes the previous week, SovEcon said, citing port data.

Despite those figures, the agency forecast December wheat exports of 4 million tonnes, compared with 4.1 million tonnes a year ago.

Russia's grain harvest this year is expected to reach 146 million tonnes net weight, President Vladimir Putin said last week.

Weather conditions remained favorable for winter crops last week, the SovEcon report noted.

Sowing of winter cereals was done on an area of ​​18.6 million hectares compared to 17.7 million hectares last year. The sowing campaign in the country is officially over, the report concludes.

At the same time, the Russian Ministry of Agriculture bought 79,000 grains, including 71,000 wheat, in the state fund in the first week of intervention purchases.


Leave a comment

Please note, comments must be approved before they are published