Russia. Steady price growth continued in the wheat export market last week


Steady price growth continued in the Russian wheat export market this past week. Export prices continue to be supported by persistently high demand from importers along with further strengthening of the Russian rouble against the US dollar, reports UkrAgroConsult.

On average, 12.5%-protein milling wheat prices in Novorossiysk port closed the week up another $1-2/MT at $204‑206/MT FOB, March-April delivery.

Buoyant demand for Russian wheat remains from Egypt and Turkey. In addition, Russia stepped up exports of high-protein wheat to Vietnam. According to our estimates, Russia has supplied over 1 MMT of wheat to the Vietnamese market to date against 124 KMT for the entire last season.

More information on price behavior on grain market in the countries of Black Sea region is available to subscribers for weekly market report "Black Sea Grain" and "Online market review" by UkrAgroConsult.




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