MOSCOW – March 01, 2021
Russian wheat export prices rose for the second consecutive week last week due to higher prices in Chicago and Paris.
Russian wheat with 12.5% protein loading from Black Sea ports for supply in March was at $287 a tonne free on board (FOB) at the end of last week, up $4 from the previous week.
While according the private Soviet Ag, wheat and barley prices rose by $4 to $284 and $251 per tonne, respectively.
Indeed, Russia’s wheat has recovered its competitive edge after a sell-off in the previous weeks.
Russia doubled its wheat export tax to 50 euros ($60) per tonne starting from Monday so, Soviet Ag expects the country’s wheat exports to slow within the next two weeks.
Prices for Russian sunflower oil jumped by $85 and reached a 10-year high supported by growth in global vegetable oils.
Cold weather in the main wheat producing regions last week was brief enough to have no damage on plants insulated by snow, but the ice-crust remains a risk for several regions.
Product: Price at the end Change from week
of last week: earlier
- Domestic 3rd 13,875 roubles/t -350 rbls
class wheat, ($187,40)
European part of
Russia, excludes
delivery
(Sov. Ag.)
- Sunflower seeds 41,950 rbls/t -1,250 rbls
(Sov. Ag.)
- Domestic 101,500 rbls/t +1,675 rbls
sunflower oil
(Sov. Ag.)
- export $1,440/t +$85
sunflower oil
(Sov. Ag.)
- export $1,470/t +$120
sunflower oil
(Rus. Ag.)
- Soybeans 41,250 rbls/t -1,550 rbls
(Sov. Ag.)
- white sugar $590.72/t +$8,60
(Rus. Ag.)
($1 = 74.0500 roubles)
Source: Reuters
