Russian wheat export prices rose last week, supported by government purchases from Egypt, the largest buyer of Russian wheat, and expectations that the ruble will continue to rise against the dollar, analysts said.
Egypt bought 295,000 tons of wheat last week in a tender, including 60,000 tons of Russian wheat at $ 198 per ton FOB (FOB).
Russia exported 32.2 million tons of grain, including 24.9 million tons of wheat, in the period from July 1 last year to May 17 this year, the Ministry of Agriculture said. This equates to an increase of 1.2 percent per year.
As of May 19, farmers have planted spring crops at 58.8 percent, or 18.2 million hectares, of the planned area, the Ministry of Agriculture said. In addition, the sunflower market continues to grow after the resumption of purchases from Turkey, the top sunflower oil buyer for Russia.
Russian wheat export prices rise amid purchases from Egypt and the strengthening of the ruble
There are no comments yet.