MOSCOW – DECEMBER 15, 2020
Russian domestic prices for wheat fell sharply at the end of last week as supply rose ahead of a wheat export tax which Russian officials are planning to impose in addition to a grain export quota, analysts said on Monday.
Russia plans to impose a set of measures to slow the rise of domestic food prices, including the wheat export tax of 25 euros ($30.4) for Feb 15-June 30, its government said at a meeting on Monday.
“Grain supply is up as farmers are rushing to sell at current still almost record-high prices after export tax rumours,” Soviet agriculture consultancy said in a note.
Domestic prices for third-class wheat fell by 225 roubles to 15,725 roubles ($215.4) per tonne last week, it added.
Russian wheat with 12.5% protein loading from Black Sea ports for supply in December was at $252 a tonne on a free-on-board (FOB) basis at the end of last week, unchanged from the week before, another agriculture consultancy, said in a note.
Soviet Ag said wheat export prices rose by $2 to $257 a tonne, while barley was steady at $216 a tonne.
Domestic sugar prices were slightly down in rouble terms, but rose by $4 in dollar terms due to stronger rouble, IKAR said.
Other Russian data provided by Sovecon and IKAR:
Product: Price at the end Change from week
of last week: earlier
- Domestic 3rd 15,725 rbls/t -225 rbls
class wheat,
European part of
Russia, excludes
delivery
(Soviet Ag)
- Sunflower seeds 39,325 rbls/t -575 rbls
(Soviet Ag)
- Domestic 89,350 rbls/t +850 rbls
sunflower oil
(Soviet Ag)
- export $1,090/t -$10
sunflower oil
(Soviet Ag)
- export $1,105/t +$10
sunflower oil
(Russian Ag)
- Soybeans 40,700 rbls/t unchanged
(Soviet Agn)
- white sugar, $542.7/t +$4
Russia's south
(Russian Ag)
($1 = 73.0075 roubles)
Source: Reuters
