News

Indonesian demand for Ukrainian grain is growing

Wheat
Published Feb 22, 2024

Tridge summary

Ukrainian wheat exports are on the rise, with over 2 million tons contracted since early February, largely driven by high domestic prices in Indonesia. Despite potential shipping disruptions in the Red Sea due to conflict, Ukrainian wheat remains competitively priced, with a tonne recently sold to Egypt for $224. Farmers are reportedly willing to sell for as low as $195 per ton at the Danube ports.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Export sales of Ukrainian wheat are growing steadily. Since the beginning of February, more than 2 million tons have been contracted, which could be a record supply for the season. As of March, 1.4 million tons of wheat have already been sold. This was discussed on February 20 during the weekly briefing organized by the analytical center of the agricultural cooperative PUSK, created within the framework of the VAR. “Traders say that Indonesia is very actively involved in purchases of Ukrainian feed wheat. This Asian country has sky-high prices on the domestic market and is interested in importing grain. The demand price from Indonesia is $260-265/t CIF. It is very profitable to export Ukrainian wheat to Indonesia. The fly in the ointment for these plans is the conflict in the Red Sea, where there is a high risk of shelling of the merchant fleet. This is still a systemic problem that negatively affects trade in the Black and Mediterranean Seas. The risk is holding back Ukrainian ...
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