AGL 5.95 Decreased By ▼ -0.13 (-2.14%)
ANL 9.26 Decreased By ▼ -0.14 (-1.49%)
AVN 80.82 Decreased By ▼ -0.64 (-0.79%)
BOP 5.20 Decreased By ▼ -0.07 (-1.33%)
CNERGY 4.86 Decreased By ▼ -0.04 (-0.82%)
EFERT 81.82 Increased By ▲ 0.27 (0.33%)
EPCL 53.94 Decreased By ▼ -0.06 (-0.11%)
FCCL 14.29 Decreased By ▼ -0.11 (-0.76%)
FFL 5.93 Decreased By ▼ -0.12 (-1.98%)
FLYNG 7.44 Decreased By ▼ -0.12 (-1.59%)
FNEL 4.95 Decreased By ▼ -0.05 (-1%)
GGGL 9.18 Decreased By ▼ -0.14 (-1.5%)
GGL 16.51 Decreased By ▼ -0.19 (-1.14%)
HUMNL 6.14 Increased By ▲ 0.45 (7.91%)
KEL 2.77 Decreased By ▼ -0.02 (-0.72%)
LOTCHEM 30.81 Increased By ▲ 0.26 (0.85%)
MLCF 27.45 Decreased By ▼ -0.34 (-1.22%)
OGDC 74.27 Increased By ▲ 0.27 (0.36%)
PAEL 15.98 Decreased By ▼ -0.21 (-1.3%)
PIBTL 5.21 Decreased By ▼ -0.02 (-0.38%)
PRL 17.01 Decreased By ▼ -0.28 (-1.62%)
SILK 1.10 Increased By ▲ 0.01 (0.92%)
TELE 10.00 Decreased By ▼ -0.04 (-0.4%)
TPL 7.65 Decreased By ▼ -0.05 (-0.65%)
TPLP 19.41 Decreased By ▼ -0.36 (-1.82%)
TREET 22.72 Decreased By ▼ -0.47 (-2.03%)
TRG 146.80 Decreased By ▼ -0.55 (-0.37%)
UNITY 17.09 Decreased By ▼ -0.10 (-0.58%)
WAVES 10.33 Decreased By ▼ -0.05 (-0.48%)
WTL 1.42 Decreased By ▼ -0.04 (-2.74%)
BR100 4,330 Increased By 3.4 (0.08%)
BR30 16,296 Increased By 46.9 (0.29%)
KSE100 42,904 Increased By 23.3 (0.05%)
KSE30 15,805 Decreased By -4.6 (-0.03%)
Markets

Russian wheat prices fall with global benchmark, rouble

MOSCOW: Russian wheat export prices fell last week with the global benchmark in Chicago and because of a weaker roub
Published August 27, 2018
Follow us

MOSCOW: Russian wheat export prices fell last week with the global benchmark in Chicago and because of a weaker rouble, analysts said on Monday.

Chicago wheat futures slid for a sixth straight session on a lack of demand for U.S. cargoes despite tightening world supplies. The rouble touched its weakest level against the dollar since April 2016 last week amid new U.S. sanctions.

Black Sea prices for Russian wheat with 12.5 percent protein content were at $225 per tonne on a free on board (FOB) basis at the end of last week, down $5 from a week earlier, IKAR agriculture consultancy said in a note.

SovEcon, another Moscow-based consultancy, quoted FOB wheat down $2 at $225 a tonne, with barley flat at $231 a tonne.

By Aug. 22, Russia had exported 7.8 million tonnes of grain since the July 1 start of the 2018/19 season, up 42 percent compared to the same period the previous year. This included 6.4 million tonnes of wheat, the Agriculture Ministry said.

Some Russian farmers are holding back on their sales of high-quality wheat amid the rouble's weakening and high demand from exporters, SovEcon said.

Domestic prices for third-class wheat were up 150 roubles at  10,550 roubles ($157.5) a tonne at the end of last week in the European part of Russia on an ex-works basis, according to SovEcon. Ex-works supply does not include delivery costs.

Prices for the new crop of sunflower seed are being set at around 19,000 roubles per tonne, SovEcon said. Domestic prices for sunflower oil were flat at 46,825 roubles a tonne.

Meanwhile, export prices for sunflower oil fell $5 to $685 per tonne, the lowest level for at least 10 years due to high global stocks and expectations of large crops in Russia and Ukraine, the consultancy said.

IKAR's white sugar price index for southern Russia was at $372.10 a tonne as of Aug. 24, down $46.5 from a week earlier.

Copyright Reuters, 2018

Comments

Comments are closed.

Russian wheat prices fall with global benchmark, rouble

'Blatant lies': ISPR rejects claims about COAS Bajwa and his family's assets

Imran’s unresolved difficulty leaves him absolutely frustrated

Govt plans to deregulate POL products’ market by 2027

Malaysia PM Anwar eyes targeted subsidies for low-income groups

England cricketers land in Pakistan for first Test series in 17 years

Qatar's migrant workers enjoy World Cup on the cheap

Energy conservation: stern measures on the cards

FBR widens probe into tax record leak of COAS, family

Tax reforms recommendations to FBR: Supertax has successful large businesses: PBC

Rice import: PM thanks Azeri President for 5-year tax holiday