12.08.2024, 12:39
Purchase prices for Russian wheat have increased
Source: OREANDA-NEWS
OREANDA-NEWS Over the past week, purchase prices for Russian wheat with 12.5 percent protein increased by an average of 1.9-3.3 percent. This is reported by the Kommersant newspaper with reference to data from market participants.
During this period, SovEcon recorded an increase in the purchase price of this type of wheat for shipment in deep-water ports to 16-16.3 thousand rubles per ton. In turn, Rusagrotrans analysts pointed to an increase in prices to 16.1-16.2 thousand, and when shipped on low water — up to 15.5 thousand per ton. Against this background, the index of the National Commodity Exchange (NTB) increased by 1.1 percent over the week, and by 4.1 percent on a monthly basis, to 16.5 thousand rubles per ton.
Dmitry Rylko, head of the Institute of Agricultural Market Conjuncture, explained such dynamics by a number of factors, including high activity of exporters and steady demand from feed producers. The latter, according to him, are currently striving to form the necessary reserves.
Earlier, SovEcon analysts lowered their forecast for wheat harvest in Russia in 2024 to 82.9 million tons against the previous estimate of 84.7 million. Thus, experts' expectations worsened by 1.8 million. At the same time, the forecast was lowered in a number of key agricultural regions, including the Southern, Central and Siberian districts. Analysts explained the revised estimate of lower expected yields in the country.
During this period, SovEcon recorded an increase in the purchase price of this type of wheat for shipment in deep-water ports to 16-16.3 thousand rubles per ton. In turn, Rusagrotrans analysts pointed to an increase in prices to 16.1-16.2 thousand, and when shipped on low water — up to 15.5 thousand per ton. Against this background, the index of the National Commodity Exchange (NTB) increased by 1.1 percent over the week, and by 4.1 percent on a monthly basis, to 16.5 thousand rubles per ton.
Dmitry Rylko, head of the Institute of Agricultural Market Conjuncture, explained such dynamics by a number of factors, including high activity of exporters and steady demand from feed producers. The latter, according to him, are currently striving to form the necessary reserves.
Earlier, SovEcon analysts lowered their forecast for wheat harvest in Russia in 2024 to 82.9 million tons against the previous estimate of 84.7 million. Thus, experts' expectations worsened by 1.8 million. At the same time, the forecast was lowered in a number of key agricultural regions, including the Southern, Central and Siberian districts. Analysts explained the revised estimate of lower expected yields in the country.
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