MOSCOW: Russian wheat export prices rose for the third week in a row, supported by strong demand from major importers such as Turkey, analysts said on Monday.
Russian wheat with 12.5% protein loading from Black Sea ports and for supply in September was at $224 a tonne free on board (FOB) at the end of last week, up $8 from the previous week, agriculture consultancy IKAR said in a note. Prices rose further on Monday and reached $227, it added.
Sovecon, another Moscow consultancy, pegged wheat up $8 at $222 a tonne at the end of last week, and barley up $3 at $188 a tonne.
"Russian wheat starts to lose its competitive edge after recent rally," Sovecon said, referring to competition between Russian and French wheat.
Russian domestic wheat prices also rose last week, it added.
Wheat exports from Russia are expected to reach 5.1 million tonnes in September, a record level for this month, Sovecon said.