Russian wheat export prices stayed broadly flat last week amid slowing growth in export volumes and higher prices on the global grains market, analysts said on Monday. Black Sea prices for Russian wheat with 12.5 percent protein content for May delivery stayed at $213 a tonne free on board (FOB) last week, Russian agricultural consultancy IKAR said in a note.
SovEcon, another Moscow-based consultancy, also quoted FOB wheat prices at $213.5 a tonne, an increase of $0.5 from the previous week. The Russian Agriculture Ministry said Russia had exported 44.2 million tonnes of grains from the start of 2017/2018 marketing season through to May 2, up 43 percent year-on-year. According to SovEcon, which cites customs data, grain exports will slow in May to 3.7 million tonnes, including 2.9 million tonnes of wheat. This is compared with 4.6 million tonnes and 3.5 million tonnes respectively in April.
Domestic prices for third-class wheat stood at 9,050 roubles ($144.4) 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. Sunflower seed prices were unchanged at 20,875 roubles a tonne, SovEcon said. Domestic sunflower oil prices rose by 150 roubles to 44,325 roubles per tonne. Export sunflower oil prices declined by $5 to $750 per tonne.
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