MOSCOW: Russian wheat export prices kept going up last week amid persistent demand and analysts said that frosts which have arrived in the European part of the country have not yet affected the condition of crops.
The price for Russian wheat with 12.5 percent protein content for free-on-board (FOB) delivery in late January - early February was USD228.0 a metric ton at the end of last week, up USD0.5 from the week before, said Dmitry Rylko, head of the IKAR consultancy.
The Sovecon consultancy estimated the price for Russian wheat with 12.5 percent protein content at between USD228 and USD230 a ton FOB compared to USD227 to USD228 a ton FOB in the previous week.
Sovecon estimates wheat exports in December at 3.9 million tons, which is higher than last year’s 3.4 million tons.
IKAR believes that wheat exports in December may fall below its forecast of 4.5 million tons last week, particularly given the difficult weather conditions in southern ports.
The sub-zero temperatures that hit the European part of the country last week did not have a negative impact on crops in the main wheat-growing regions, according to Rylko.
He noted that the eastern and north-eastern regions of the European part of Russia experienced the most severe frosts, where the crops are already protected by snow cover.
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