MOSCOW – February 15, 2021
Russian wheat export prices fell for the fourth consecutive week last week amid a decline in prices in Chicago and Paris and rising supply in the domestic market.
Moscow’s wheat export tax and a grain export quota, launched on Monday as part of efforts to reduce food inflation amid the coronavirus pandemic, have already been priced in.
Russian wheat with 12.5% protein loading from Black Sea ports for supply in March was average at $279.25 a tonne free on board (FOB) at the end of last week, down average $6.25 from the previous week, while barley was unchanged at $248.
Russian exporters are trying to regain their competitive edge and supply from farmers is growing also in the domestic market.
Russia is one of the world’s largest exporters of wheat.
According a Moscow agricultual consultancy, risks for Russia’s 2021 winter wheat crop will rise if current warm weather, which forms an icy crust as snow melts in fields, persists for another week or two in several southern regions.
A cold front that is expected to move further south this week could poses a risk for regions where plants are weak and already vegetating.
Product: Price at the end Change from week
of last week: earlier
- Domestic 3rd 14,525 roubles/t -700 rbls
class wheat, ($198,50)
European part of
Russia, excludes
delivery
(Sov. Ag.)
- Sunflower seeds 45,275 rbls/t +2,550 rbls
(Sov. Ag.)
- Domestic 99,500 rbls/t +4,000 rbls
sunflower oil
(Sov. Ag.)
- export $1,280/t +$10
sunflower oil
(Sov. Ag.)
- export $1,289/t +$26
sunflower oil
(Rus. Ag.)
- Soybeans 42,800 rbls/t +800 rbls
(Sov. Ag.)
($1 = 73.1780 roubles)
Source: Reuters
