Food Industry News

Russian wheat continues to fall in price

Export prices for Russian wheat continue to decline under the pressure of the previous external factors - the weakness of the world's stock exchanges and unresolved situation with deliveries to Egypt, according to "Reuters" referring to the statement of analysts.

According SovEkon agency, the cost of wheat with 12,5-percentage of FOB protein decreased at the end of last week to $ 169,5 per tonne from $ 171,5 weeks earlier.

The agency notes ICAR price decline tonnes this class of wheat for export FOB to $ 167 168 from $ a week.

"We are at a depressingly low level due to the fact that Egypt is in an unchanged state. And the demand from Turkey is also not very high, "- says the head of IKAR Dmitry Rylko.

Egypt and Turkey are the largest importers of Russian wheat.

Egypt's wheat requirements to suppliers, nedopuskaet no presence of fungus ergot in cereal, puzzled, not only Russia, but also other exporters; GASC tenders procurement is held to no avail.

According to the Ministry of Agriculture of the Russian Federation on 14 September 2016 in the marketing / 2017 7,453, Russia exported a million tons of grain, of which 6,316 million tons - wheat.

"Hopes for the weakening of the ruble, which can give impetus to the growth in the domestic market can also not be justified. Indeed, we believe that the ruble in the near future may become loose. However, this probably will not be enough for a noticeable increase of the grain market in the South ", - analysts SovEkon.

According to them, the domestic grain market situation develops heterogeneously. The increase in average prices due to the continued strengthening of the Center and Volga region, where farmers continue to restrict sales in anticipation of further price strengthening. Third grade wheat on the European part of Russia has risen by up to 100 10.200 rubles rubles per ton.

In the main Russian export region - the North Caucasus - the price of wheat in the week continued to decline. Third grade wheat on average fell by up to 100 10,650 rubles thousand rubles per ton.

"In the meantime, the South prices are falling, or even stand still, the rise in prices in other regions looks more and more unreasonable. The probability of stabilizing the market in the Center and Volga region in the near future seems to us quite high, "- analysts write SovEkon.

Exports of maize in September against the backdrop of the purchase of the new harvest could reach a record for this month - 400.000 tons SovEkon predicts, noting an increase of this crop prices in ports around 100 rubles per week - up to 9.900-10.100 per tonne.

Export prices for sunflower oil are quite high - $ 760 per tonne fob, the average price rose sunflower 150 rubles per ton to 22.300 rubles.

"We expect the upward trend in the market against the backdrop of strong competition for raw materials between the creamery and the likely weakening of the ruble," - predicts SovEkon.

ICAR white sugar index for the southern regions of Russia fell a week before the $ 551,98 from 570,58 $ per ton.

See also ... 28 / 08 / 2015 Egypt will buy another 60 thousand tons of wheat from Russia22 / 07 / 2013 Egypt is ready to resume purchases of wheat in Russia08 / 02 / 2016 Egypt has canceled another tender for the purchase of wheat22 / 07 / 2015NUMX Egypt will buy 03 Egypt asks Russia for preferential wheat02 / 2016 / 19 Egypt's problems will push Russia to seek new grain markets08 / 2013 / 12 Egypt has banned the import of wheat with ergot grain 09 / 2016 / 12 Egypt Wuxi silt control of grain supplies from Russia09 / 2012 / 13 Egypt purchased 09 thousand tons of Russian wheat2016 / 17 / 08 Russian farmers collected 2016 million tons of grain by November 2901 / 2014 / 180 Egypt bought 08 thousand 11 / 2012N / 7 / 72,9 abolish grain duty for Egypt13 / 07 / 2016 EU: 120% of the wheat harvested is feed

Add a comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to combat spam. Find out how your comment data is processed.