MOSCOW, Aug 30 (Reuters) – Russian wheat export costs rose for the seventh consecutive week final week, monitoring value will increase in Chicago WZ1 and Paris BL2Z1, the IKAR agriculture consultancy mentioned on Monday.
Russian wheat with 12.5% protein loading from Black Sea ports for provide in late September or early October was $299 a tonne free on board (FOB) on the finish of final week, up $four from the earlier week, IKAR mentioned in a notice. 0#IKAR
“Russian wheat wants to maneuver decrease to compete with different origins,” one other consultancy, Sovecon, mentioned. It pegged wheat and barley costs down by $1 to $298 per tonne and $262 per tonne, respectively.
Russian wheat exports sped up final week because the state export tax is ready to rise sharply from Sept. 1, Sovecon mentioned.
It reduce its forecast for Russia’s 2021/22 wheat exports final week to the bottom in 5 years resulting from a smaller crop and competitors with Ukraine and different suppliers.
Russian home wheat costs fell final week, although, as many customers and exporters began to decrease bids and as a few of them anticipate the export tax to rise additional, Sovecon added.
Russia is altering its wheat export tax each week since June.
Different Russian knowledge offered by Sovecon and IKAR:
Product:
Value on the finish of final week:
Change from week earlier
– Home third class wheat, European a part of Russia, excludes supply (Sovecon)
15,200 roubles/t
($206.5)
-225 rbls
– Sunflower seeds (Sovecon)
37,200 rbls/t
+800 rbls
– Home sunflower oil (Sovecon)
96,175 rbls/t
unchanged
– export sunflower oil (Sovecon)
$1,300/t
+$20
– export sunflower oil (IKAR)
$1,290/t
-$10
– soybeans (Sovecon)
50,100 rbls/t
+375 rbls
– white sugar, Russia’s south (IKAR)
$600/t
+$6.7
($1 = 73.5930 roubles)
(Reporting by Polina Devitt Modifying by Mark Potter)
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