Russian wheat export prices down sharply

MOSCOW: Russian wheat export prices fell sharply last week - extending their fall to the fourth consecutive week - amid weak demand and lower prices in Chicago and Paris, analysts said on Monday.

Russia, one of the world’s largest exporters of wheat, imposed several export curbs on its main agriculture products in recent months and plans more of them to tame the country’s rising food inflation.

Russian wheat with 12.5% protein loading from Black Sea ports for supply in April was at $257 a tonne free on board (FOB) at the end of last week, down $16 from the previous week, agriculture consultancy IKAR said.

Sovecon, another consultancy, said wheat prices fell by $21 to $253 a tonne, while barley fell by $8 to $240 a tonne.