17.
09.18
14:51

Russia: Fixed ruble and quality controls support wheat price

Russian wheat export prices rose last week due to the stronger exchange rate of the ruble and the risk of harsher quality controls on Russia's export ports.
Russia's Food Safety Inspectorate is increasing quality controls on grain exports as bulk buyers complained about falling quality standards. Traders fear that Russia intends to restrict exports in this way.
Russian export wheat prices of 12.5% ​​protein rose $ 2 to $ 217 / tonne FOB last week, according to Russian agricultural consultancy IKAR. SovEcon reports a price of $ 218 / ton. For barley SovEcon reports a price of $ 233 / ton (unchanged).
As of September 13, Russia exported 12.1 million tonnes of grain in the current marketing year 2018/19. This is a 33% increase over the previous year at the same time. Wheat has so far been exported in a volume of 10.2 million tonnes.
The price of Class 3 wheat increased in the European part of Russia at the end of last week by 125 rubles to 11,025 rubles ($ 162 / ton) on the basis of ex works.

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