Russia advises exporters not to sell wheat at tenders below $250/t

Published 2024년 10월 22일

Tridge summary

A closed meeting by Russian grain exporters on October 11, 2024, led to the decision to exclude foreign intermediaries in grain exports to 13 countries, including Egypt, Tunisia, and India. The meeting also established a minimum sale price for wheat at $250/t FOB and set an export duty on Russian wheat at 2131.2 rubles per ton, effective from October 23. Online Analytics “Black Sea Grain” by AgriSupp offers in-depth analysis of grain export trends, supply, demand, and prices in the Black Sea Region.

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Original content

On October 11, 2024, a closed meeting of Russian grain exporters was held, which resulted in the identification of 13 countries to which Russian grain and grain products will be exported without foreign intermediaries: Egypt, Tunisia, Algeria, Morocco, Jordan, Saudi Arabia, Bangladesh, Qatar, Kuwait, South Korea, Pakistan, and India. It was also decided to exclude foreign intermediaries from the supply chain of Russian wheat and other grain products. The Russian Ministry of Agriculture advised exporters not to sell wheat at tenders below $250/t FOB. The Union of Grain Exporters announced export prices for wheat on FOB Novorossiysk terms at $240/t for October, $245/t for November and $250/t for December. Starting October 23, the export duty on Russian wheat will be 2131.2 rubles per ton. More detailed information on the latest trends in grain exports, supply and demand balances with breakdown by crop, price behavior, crop conditions and progress in harvesting/planting in the ...

Source: UkrAgroConsult