Russian wheat export prices rose at the start of the year, bolstered by a strengthening rouble and global commodity price increases, though activity was thin due to the Christmas holidays in Russia, analysts said on Monday. Black Sea prices for Russian wheat with 12.5 percent protein content were at $192 a tonne on a free-on-board (FOB) basis at the end of last week, Russian agricultural consultancy IKAR said in a note.
SovEcon, another Moscow-based consultancy, quoted FOB wheat prices in the Black Sea area at $192.5 per tonne. By January 10, Russia had exported 27.994 million tonnes of grain since the start of the 2017/18 season on July 1, including 21.841 million tonnes of wheat, the agriculture ministry said. The pace of grain exports was up 34.9 percent compared to the same period the previous season.
Domestic prices for third-class wheat fell 25 roubles to 8,600 roubles ($152.37) a tonne in the European part of Russia on an ex-works basis, according to SovEcon. Ex-works supply does not include delivery costs. New crop sunflower seed prices fell 25 roubles to 19,175 roubles per tonne, SovEcon said, while domestic sunflower oil prices were flat, at 43,825 roubles, and export prices were stable at around $735 per tonne, down $5 from the end of 2017.
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