Ukrainian wheat prices exceeded 6-year high

Source

APK-Inform

2146

According to APK-Inform, export prices of Ukrainian wheat have been growing since mid-December.

“Ukrainian market has been developing along with the Russian one and depended on the implementation of quota and duty on wheat export in Russia. High demand on wheat from importers amid move of Ukrainian export to the limit volume set in the Memorandum as well as sharp appreciation of Russian wheat and problems with its export due to customs inspection of cargo pushed Ukrainian prices up as well. Reserved farmers’ selling and higher prices of wheat on the global market supported Ukrainian prices too”, - the head of the local markets department of APK-Inform, Anna Tanskaya commented.

As of January 4, the offer prices of wheat reached 268 USD/t FOB deep-sea ports and exceeded the 6-year high (265 USD/t FOB set in early January 2015).

“The appreciation was limited by the need to stay competitive on the global market and favorable weather in the key producing regions, including Ukraine. Winter crops are mainly in good and satisfactory conditions across Ukraine. At the same time, the very late crops planted after October 15 may suffer in case of unfavorable weather, as they entered wintering underdeveloped”, - the expert summarized.
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