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Russia: In the first half of the season, export prices for wheat rose sharply

Wheat
Russia
Published Jan 11, 2022

Original content

In the first half of the 2021/22 season, wheat prices in the Black Sea region increased by 45%, Refinitiv reports. The reason was concerns about the volume of production and quality of grain in the Northern Hemisphere, as well as the export duty imposed by Russia. So, according to analysts, from July to December 2021, export quotations for Russian wheat with 12.5% FOB protein increased by $ 100 to $ 332.5 per ton and reached the highest level since 2017. At the same time, the wheat harvest in the Black Sea region in 2021 exceeded 108 million tons, including an estimated 32.4 million tons in Ukraine. Since June 2021, the export duty on Russian wheat has increased from $ 28 to $ 98.2 per ton. “Purchase prices for wheat in the Russian southern ports were quite volatile, but for the period July-December 2021 they added more than 3 thousand rubles. up to 3.5 thousand rubles. per ton, or 25%, "Refinitiv calculates. According to Elena Tyurina, head of the analytical department of the ...
Source: AgroInvestor
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