Late last week increased the price of Russian export wheat. Exporters must comply with their commitments from earlier financial statements.
Russian Black Sea wheat with 12.5% protein costs now 193.5 USD/ton fob. These are three USD more than in the previous week.
In the period from 1 July 2015 to May 11, Russia exported 31.2 million metric tons of grain; of them were 22.5 million tons of wheat. An increase of 11% compared with the previous year. The fiscal year runs until June 30 and because exports as well the consulting firm IKAR has raised its export forecast for 2015/16 to 200,000 tons to 24 million tons.
Prices for local wheat of class III rose to now 10.975 roubles per ton (169 USD/tonne) in the European part of Russia to 125 rubles per tonne.
