Russian wheat export prices have risen for the seventh consecutive week amid strong demand for wheat from neighbouring Ukraine and slower sales from farmers who are holding onto their supplies, analysts said on Monday. Black Sea prices for Russian wheat with 12.5 percent protein content for November supply were at $179 a tonne on a free-on-board (FOB) basis at the end of last week, up $1 from a week earlier, Russian agricultural consultancy IKAR said.
SovEcon, another Moscow-based consultancy, quoted prices in a note at $179.5 a tonne, up $2. Russia exported 13.1 million tonnes of grains, including 10.6 million tonnes of wheat, between July 1 and November 2, the agriculture ministry said. The pace of grain exports was down 1.3 percent year on year. Domestic prices for third-class wheat were down 50 roubles week on week to 10,425 roubles ($162) a tonne in the European part of Russia on an ex-works basis, according to SovEcon. Ex-works supply does not include delivery costs.
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