The Omicron strain has pushed down grain prices in the Black Sea region and European market

Published Dec 1, 2021

Tridge summary

In the Black Sea region there is a sharp decline in grain prices after other exchanges, due to the variety Omicron - strain COVID-19. This was reported by analysts from Agritel. It is noted that export duties in Russia will increase from 78.3 dollars per ton now to 80.8 dollars per ton for the period from 1 to 7 December. In addition, the competitiveness of Russian grain will be tested in an Egyptian wheat tender.

Original content

Grain prices in the European market also fell sharply amid concerns about Omicron's impact, the report said. There is very high volatility in the markets. The question of the impact of the new strain COVID-19 on the market is asked by all in conditions of complete uncertainty. It is noted that Egypt, taking advantage of the fall in prices, announced a new tender for the purchase of wheat for the period from 9 to 20 January. Jordan buys 120,000 tons of feed barley. In Australia, concerns remain about the quality of wheat due to heavy rainfall during harvest. This provides support for Euronext, where December prices continue to fluctuate around € 300 per tonne. Analysts point out that data on EU wheat exports include only 822,000 tonnes of French origin due to technical problems related to the collection of export volumes from third countries. According to experts, it is difficult to interpret the EU's export activities in this context, given that France has exported more than 3 ...

Source: Agrozona