MOSCOW – April 12, 2021
According to IKAR agriculture consultancy, Russian wheat export prices rose last week, as a new international tender won and higher prices in Chicago and Paris that helped to halt a five-week decline.
Egypt’s state grains buyer GASC, indeed, purchased 345,000 tonnes of wheat in a tender last week, including 290,000 tonnes of Russian wheat and 55,000 tonnes of Ukrainian wheat.
Egypt is the second-largest buyer of Russian wheat behind Turkey.
In this context, Russian wheat with 12.5% protein loading from Black Sea ports for supply in April was at $ 247 a tonne free on board (FOB) at the end of last week, up $ 2 from the previous week.
Meantime, according to Sovecon, another consultancy, barley prices fell by $ 2 to $ 233 a tonne.
The weather has been favorable for the upcoming crop in Russia and Ukraine in recent weeks, with additional healthy rains expected to come to Russia’s south this week.
Both Sovecon and IKAR, indeed, raised their estimates for Russia’s 2021 wheat crop in recent days.
Below a summary of other Russian data provided by Sovecon and IKAR:
Product: Price at the end Change from week
of last week: earlier
- Domestic 3rd 13,550 roubles/t -100rbls
class wheat, ($174,68)
European part of
Russia, excludes
delivery
(Sov. Ag.)
- Sunflower seeds 53,350 rbls/t -75 rbls
(Sov. Ag.)
- Domestic 113,350 rbls/t -4,825rbls
sunflower oil
(Sov. Ag.)
- export $1,495/t unchanged
sunflower oil
(Sov. Ag.)
- export $1,490/t +$25
sunflower oil
(Rus. Ag.)
Domestic
- soybeans 47,800 rbls/t -900rbls
(Sov. Ag.)
- white sugar $587.60/t +$12,60
(Rus. Ag.)
($1 = 77.5700 roubles)
Source: Reuters
