Russian exporters raised purchasing prices of wheat after changes to export duty calculation

Source

APK-Inform

4389

According to APK-Inform, exporters have raised their purchasing prices of wheat this week in the Russian ports of the Black and Azov Seas.

This trend is mainly explained by the reaction to the decrease of the export duty after a conversion of its calculation into rubles. Insufficient supply of wheat from farmers supported the prices too. Farmers consider previous prices unprofitable amid higher production costs and more expensive logistics.

Since the end of last week, the bid prices of food wheat in the ports of the Black and Azov Seas have increased by 500-900 RUR/t and totaled 15400-16100 and 14800-16000 RUR/t CPT-port (VAT included) respectively as of July 6. The prices of wheat with a protein content above 14% reached 16250 RUR/t.

Follow our newswire to stay informed about further development of Russian grain market. More detailed information is available for those subscribed at our weekly reports 

Advertising

Enter