AVN 67.60 Increased By ▲ 0.50 (0.75%)
BAFL 30.99 Decreased By ▼ -0.01 (-0.03%)
BOP 4.91 Increased By ▲ 0.01 (0.2%)
CNERGY 3.74 Decreased By ▼ -0.04 (-1.06%)
DFML 14.03 Decreased By ▼ -0.40 (-2.77%)
DGKC 41.11 Decreased By ▼ -0.74 (-1.77%)
EPCL 46.58 Increased By ▲ 0.01 (0.02%)
FCCL 11.60 Decreased By ▼ -0.09 (-0.77%)
FFL 5.03 Decreased By ▼ -0.04 (-0.79%)
FLYNG 5.85 Increased By ▲ 0.05 (0.86%)
GGL 10.34 Decreased By ▼ -0.08 (-0.77%)
HUBC 68.04 Increased By ▲ 0.04 (0.06%)
HUMNL 5.74 Decreased By ▼ -0.02 (-0.35%)
KAPCO 28.02 Decreased By ▼ -0.08 (-0.28%)
KEL 2.26 Decreased By ▼ -0.03 (-1.31%)
LOTCHEM 25.02 Decreased By ▼ -0.03 (-0.12%)
MLCF 21.45 Decreased By ▼ -0.24 (-1.11%)
NETSOL 87.66 Increased By ▲ 1.66 (1.93%)
OGDC 99.30 Increased By ▲ 6.92 (7.49%)
PAEL 11.00 Decreased By ▼ -0.09 (-0.81%)
PIBTL 4.26 Increased By ▲ 0.02 (0.47%)
PPL 81.12 Increased By ▲ 0.97 (1.21%)
PRL 13.23 Decreased By ▼ -0.41 (-3.01%)
SILK 0.88 Decreased By ▼ -0.02 (-2.22%)
SNGP 43.85 Increased By ▲ 0.38 (0.87%)
TELE 6.12 Increased By ▲ 0.16 (2.68%)
TPLP 15.66 Decreased By ▼ -0.07 (-0.45%)
TRG 118.99 Increased By ▲ 3.98 (3.46%)
UNITY 14.01 Increased By ▲ 0.16 (1.16%)
WTL 1.23 Increased By ▲ 0.07 (6.03%)
BR100 4,171 Increased By 47 (1.14%)
BR30 15,253 Increased By 323.5 (2.17%)
KSE100 41,523 Increased By 332 (0.81%)
KSE30 15,663 Increased By 168.9 (1.09%)
Markets

Russian wheat export prices rise on supply dip

MOSCOW: Russian wheat export prices rose slightly last week on seasonal declines in supply, analysts and traders sai
Published November 19, 2018
Follow us

MOSCOW: Russian wheat export prices rose slightly last week on seasonal declines in supply, analysts and traders said on Monday.

The world's largest wheat exporter has already exported more than 22 million tonnes of grain since the start of the season,  from the 38-39 million tonnes that Russia's agriculture ministry estimates to be available in the 2018/19 season.

Black Sea prices for Russian wheat with 12.5 percent protein content and for delivery in December were $225 a tonne free on board (FOB) at the end of last week, up $3 from a week earlier, Russian agricultural consultancy IKAR said in a note.

Refinitiv pegged FOB wheat prices up $2.50  to $225.50 a tonne. SovEcon, another Moscow-based consultancy, quoted FOB barley prices up $2 to $237 a tonne.

As of Nov. 15, Russia had exported 22.6 million tonnes of grain since the start of the 2018/19 season on July 1. That was up 17 percent from a year ago and included 19.2 million tonnes of wheat, the agriculture ministry said.

Russia is finishing 2018's grain harvesting and the sowing of winter grains for the 2019 crop.

The agriculture ministry raised its forecast for the 2018 grain crop by 1 million tonnes to 110 million tonnes last week but kept its forecast for 2018/19 grain exports unchanged at 38-39 million tonnes.

SovEcon currently expects Russia's 2018 grain crop to reach 110.2 million tonnes, including 70.7 million tonnes of wheat, 9.9 million tonnes of maize (corn) and 16.8 million tonnes of barley.

The conditions for winter grain sowing is worse than the average of recent years in large parts of Russia and Ukraine because of the lack of rain in recent months, it said.

A cold spell is expected to come to the European part of Russia soon, with temperatures in the Volga region seen falling below -15 Celsius (5 Fahrenheit) in the next two weeks, potentially damaging part of the sowing, SovEcon added.

Domestic prices for third-class wheat fell 100 roubles to 10,775 roubles ($163) a tonne at the end of last week in the European part of Russia on an ex-works basis, SovEcon said. Ex-works supply does not include delivery costs.

Sunflower seed prices rose by 150 roubles to 17,500 roubles a tonne, SovEcon said. Domestic prices for sunflower oil were down 400 roubles at 42,600 roubles a tonne, while export prices fell $10 to $630 a tonne.

IKAR's white sugar price index for southern Russia was at $555.30 a tonne on Nov. 16, up $4 from a week earlier.

Copyright Reuters, 2018
 

Comments

Comments are closed.

Russian wheat export prices rise on supply dip

FY24 budget: FBR invites proposals on income tax

AIIB chief economist briefed about state of economy

Dar inducts four new members into ‘RRMC’

Reason behind cut in PSDP disbursement identified

Rs 417bn received by KP: Cabinet decides to conduct audit

Thar coal-based power plant: COD achieved

Power breakdown of Jan 23: Senate panel directs Power Division to conduct probe

LCCI says wants ‘charter of economy’, not elections

TAPI gas pipeline: Pakistan willing to go ahead with or without India

Rs650bn collection likely: 1pc hike in ST thru ordinance on the cards