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Prices for Russian wheat on the domestic market continue to grow. This is reported by “businessman“.
Average prices for Russian wheat on the domestic market last week increased by 525-550 rubles, up to 15.5-16.15 thousand rubles. per ton, the publication cites data from the Sovecon review. It is noted that “quotes are growing after the fall of the ruble and against the backdrop of high purchase prices of exporters.”
Four sources of Kommersant in the market said that recently, in conditions of limited liquidity, traders began to offer agricultural enterprises a payment deferment. A major exporter said that farmers agree, “but put up a high price tag.” Meanwhile, traders are having trouble getting funds from buyers as banks are not always ready to transfer money.
According to Sovecon, last week the Russian Federation exported about 520,000 tons of grain, including 410,000 tons of wheat, which is 13% and 10.8% more than a week earlier, respectively. Director of the company Andrey Sizov suggested that the domestic market still has the potential for further growth in grain prices.
Earlier, Russian Prime Minister Mikhail Mishustin signed a decree on a temporary ban on the export of grain to the states of the Eurasian Economic Union and sugar to third countries. Grain restrictions will be in effect until June 30, sugar – until August 31, 2022. The grain ban applies to wheat and meslin, rye, barley and corn. Deliveries of these products outside of Russia will be possible within the framework of international transit traffic.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
