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The increase in the export price of wheat in Russia

The price for wheat exports Russia reached its peak in the last five months. This phenomenon is due to increasing demand from importers. In Novorossiysk last week the price reached 7.5 USD, breaking the mark from 200 USD to 205 USD FOB. The Institute for Agricultural Market registered an increase in the price per tonne of a particular class of wheat to 207 USD FOB, at the time, as last week the price was $ 199 USD.



The agricultural problems of the southern hemisphere has left a mark on the global economy, that is why world food prices grow up. And if in Paris the prices are more reasonable, and Chicago contracts increased by 3%.

 

One of the largest consumers of Russian wheat, Egypt is, according to the latest data, the last Egyptian GASC tender price has increased by 10%. Overall, Egypt purchased about 285,000 tonnes of Russian wheat.

 

Saudi Arabia was also a tender was held, after which the SAGO goszakupok company purchased approximately 605.000 tons of wheat. The average purchase price in October was 242,51 USD per ton, while in September the price was 217,79 USD per ton.

 

If we take the figures from the beginning of the marketing season 2019 - 2020, grain exports decreased by 11%, or approximately 15.6 million tons of grain a year. We have such data on the export of grain in 2019:

  • 1.5 million tons of wheat, 11% less;
  • 1.5 million tons of barley, 22% less;
  • 0.6 million tons of corn by 8% more.

 

If we take the figures on domestic purchases of grain in Russia, the price for third class wheat rose by 175 roubles, that is, until 10.700 rubles per ton. If you take sunflower products can be seen a clear deterioration over the past week the price dropped to 550 rubles, that is, until 16.025 rubles per ton. Experts say that the situation will not change soon.