Food Industry News

The demand raised the price of Russian wheat

Export prices for Russian wheat rose last week for the first time since mid-August due to demand from Egypt, which refused to purchase a policy of “zero” ergot content in grain, the ICAR agency reports.

Last week, after three failed tenders, Egypt eased purchase requirements and bought 240 thousand tons of Russian wheat. This country is the largest buyer of Russian grain.

The cost of wheat with 12,5% protein content from Novorossiysk with delivery in October rose to $ 169 per ton of freeboard (an increase of $ 2 per week).

In the near future, Egypt will approve the delivery of another batch of Russian wheat, which it rejected earlier on the content of ergot.

Since September 22, Russia has suspended deliveries of fruits and vegetables from Egypt. This measure is not related to the issue of wheat.

According to “SovEcon”, the increase in export prices for wheat may be short-term. “The likely resumption of deliveries to Egypt may somewhat support the export prices for Russian wheat, but, we believe, this will not be enough to fundamentally change the situation in the domestic market. In the near future, we expect generally stable prices for wheat or their gradual reduction in places, ”the agency notes.

According to the Ministry of Agriculture, Russia from 1 July to 21 September delivered 7,8 million tons of grain abroad, of which 6,6 million tons is wheat. Export rates slowed by 9% yoy.

Meanwhile, domestic third grade wheat prices fell for the first time since the beginning of August, as some agricultural producers began selling, losing hope for a substantial price increase, SovEcon believes. For the week, prices fell by 25 rubles. up to 10175 rub. ($ 159) per tonne with shipment at own expense from the European part of Russia.

Sunflower seeds of the new crop fell by 50 rubles. up to 22250 rub. per ton, and the domestic prices of sunflower oil fell by 575 rubles. up to 50500 rub. per ton. At the same time, export prices remained at $ 760 per ton.

The cost of sugar in the southern regions of Russia decreased by $ 11 to $ 541 per ton, Vesti reports.

See also ... 23/09/2016 Russian wheat is also good with ergot 20/09/2016 Russian wheat continues to fall in price28 / 08/2015 Egypt will buy another 60 thousand tons of wheat from Russia22 / 07/2015 Egypt will buy Russian wheat19 / 08/2013 Problems Egypt will push Russia to seek new grain sales markets 12/09/2016 Egypt banned the import of wheat with ergot / 22/07 Russia is not ready to abolish the grain duty for Egypt2013 / 08/02 2016 Egypt hastily buys Russian wheat03 / 02/2016 Egypt purchased 13 thousand tons of Russian wheat02 / 2015/12 Grain export from Russia increased by 09% 2012/29/01 Egypt lifted the ban on the import of wheat with ergot 2014/180/08 Russian export wheat played a fall

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