Latest news with #IKAR
Business Recorder
03-06-2025
- Business
- Business Recorder
Russian new crop wheat export prices remain flat amid weak activity before new season's start
MOSCOW: Prices for new crop Russian wheat remained unchanged last week as trading in old crop supplies has nearly stopped and the market is waiting for the start of the new marketing season with possible changes in export regulations, analysts said. The price for new crop Russian wheat with 12.5% protein content for free-on-board (FOB) delivery in the second half of July was $225 per metric ton, same as a week ago, said Dmitry Rylko, head of the IKAR consultancy. IKAR upgraded its estimate of wheat exports in May to 2.1 million tons from 1.7-1.9 million tons a week ago. Wheat exports in June are estimated at 1.2 million tons. The Sovecon consultancy estimated prices for Russian old crop wheat with 12.5% protein content at $240-243 per ton FOB compared to $248-250 per ton FOB a week before. New crop offers are being discussed at $225–230 per ton. According to the agency, the price dynamics was affected by a potential change in the calculation of export duties announced last week by Russian Deputy Prime Minister Dmitry Patrushev. He said Russia will reduce exports to 44.5 million metric tons of wheat and 53 million tons of grain in the 2024/25 season. Sovecon upgraded the forecast for May wheat exports by 0.1 million tons to 1.9 million tons.
Business Recorder
13-05-2025
- Business
- Business Recorder
Russian wheat prices flat
MOSCOW: Russian wheat export prices were unchanged last week amid low market activity, analysts said. The price for Russian wheat with 12.5% protein content for free-on-board (FOB) delivery in early April remained at $247 per metric, as the week before, said Dmitry Rylko, head of the IKAR consultancy. 'The market is very sluggish', he said. Russia had a three-day working week last week due to public holidays. IKAR and Rusagrotrans rail carrier estimated April wheat exports at 2.3 million tons. May exports are expected at 1.8 to 2.0 million tons, Rylko said. Analysts at IKAR and Rusagrotrans noted an increase in April shipments to Turkey, Iran, Egypt and Libya. IKAR last week raised wheat production and export forecasts for this season. Nevertheless, spring frosts in the centre of the country have led to the destruction of some crops. The Voronezh region announced on Monday that it was preparing to declare a state of emergency. The sugar industry lobby, Soyuzrossakhar, reported that about 12% of sugar beet crops were lost due to cold snaps in April-May.
Business Recorder
05-05-2025
- Business
- Business Recorder
Russian wheat prices down as new crop approaches market
MOSCOW: Russian wheat export prices fell last week as the new crop approached the market, with no confirmation of significant crop damage from past frosts, analysts said. The price for Russian wheat with 12.5% protein content for free-on-board (FOB) delivery late March to early April down $2 to $247 per metric ton compared with the previous week, said Dmitry Rylko, head of the IKAR consultancy. The Sovecon consultancy estimated prices for Russian wheat with 12.5% protein content at between $249 and $250 per ton FOB for the middle of last week, compared with $249-$251 last week. New crop offers are around $234–235 per ton. Sovecon raised its estimate for April wheat exports by 0.1 million tons to 2.3 million tons, still substantially lower than the 4.6 million tons exported in April 2024. Trading activity on the domestic market is expected to remain limited during the first half of May, with May Day and Victory Day holidays in Russia on May 1–2 and May 8–9, the agency wrote in a weekly note. IKAR has not yet changed its export estimates over 2.1 million tons for April wheat exports. Rusagrotrans rail carrier raised its April export estimate to 2.3 million tons from 1.9 million tons due to stronger demand from Turkey, which shipped 355,000 tons in April, 2.3 times more than in March, and Iran with 270,000 tons (1.9 times more). The forecast for May exports is about 1.9 million tons. Sovecon last week raised its forecast for Russia's wheat export for the 2024/2025 and 2025/26 season, noting that under current circumstances it does not expect a significant acceleration of exports. IKAR and SovEcon analysts do not believe that short-term frosts in the European part of the country were able to significantly damage crops.
Business Recorder
05-05-2025
- Business
- Business Recorder
Russian wheat prices down last week as new crop approaches the market
MOSCOW: Russian wheat export prices fell last week as the new crop approached the market, with no confirmation of significant crop damage from past frosts, analysts said. The price for Russian wheat with 12.5% protein content for free-on-board (FOB) delivery late March to early April down $2 to $247 per metric ton compared with the previous week, said Dmitry Rylko, head of the IKAR consultancy. The Sovecon consultancy estimated prices for Russian wheat with 12.5% protein content at between $249 and $250 per ton FOB for the middle of last week, compared with $249-$251 last week. New crop offers are around $234–235 per ton. Sovecon raised its estimate for April wheat exports by 0.1 million tons to 2.3 million tons, still substantially lower than the 4.6 million tons exported in April 2024. Trading activity on the domestic market is expected to remain limited during the first half of May, with May Day and Victory Day holidays in Russia on May 1–2 and May 8–9, the agency wrote in a weekly note. Russian wheat prices steady IKAR has not yet changed its export estimates over 2.1 million tons for April wheat exports. Rusagrotrans rail carrier raised its April export estimate to 2.3 million tons from 1.9 million tons due to stronger demand from Turkey, which shipped 355,000 tons in April, 2.3 times more than in March, and Iran with 270,000 tons (1.9 times more). The forecast for May exports is about 1.9 million tons. Sovecon last week raised its forecast for Russia's wheat export for the 2024/2025 and 2025/26 season, noting that under current circumstances it does not expect a significant acceleration of exports. IKAR and SovEcon analysts do not believe that short-term frosts in the European part of the country were able to significantly damage crops. Winter wheat regions are expected to stay mostly dry this week, Sovecon analysts noted.
Business Recorder
28-04-2025
- Business
- Business Recorder
Russian wheat prices steady
MOSCOW: Russian wheat export prices changed little last week, with new crop wheat priced lower than last year's, while analysts are waiting to assess the impact of a cold snap in the southern regions of the country this week. The price for Russian wheat with 12.5% protein content for free-on-board (FOB) delivery in the latter part of May was up $1 to $249 per metric ton compared with the previous week, said Dmitry Rylko, head of the IKAR consultancy. This primarily reflects the dynamics of the dollar rate, he said. The Sovecon consultancy estimated prices for Russian wheat with 12.5% protein content at between $249 and $251 per ton FOB, compared with $250-$252 last week. 'Expectations around a potential resolution in the Black Sea conflict continue to weigh on wheat markets,' Sovecon said in a weekly note. A peace settlement would potentially increase the supply of Russian wheat on export markets, leading to lower prices. According to Rylko, potential buyers of new crop wheat estimate it at $235 per ton FOB amid generally declining world markets. The assessment of the new crop may be affected by frosts expected today in Rostov and neighbouring regions, he said. The potential damage will be clear in a few days. The central part of the country and the Volga region have already experienced short-term cold snaps. Sovecon also noted a deterioration in weather conditions for the new crop due to low levels of precipitation. The pace of the sowing campaign this year is ahead of last year, the Russian Agriculture Ministry said. As of the end of last week, sowing was carried out on an area of 10.5 million hectares, which is 1.3 million hectares more than the same period in 2024. In particular, spring grain crops have been sown on 6.3 million hectares (compared with 4.8 million hectares in 2024), including spring wheat on 1.7 million hectares. Sovecon raised its estimate for April wheat exports by 0.2 million tons to 2.2 million tons, still substantially lower than the 4.6 million tons exported in April 2024. IKAR's estimate was raised to over 2.1 million tons from 1.6-1.7 million tons, mainly due to increased exports to Turkey. IKAR estimate raised to over 2.1 million tons from 1.6-1.7 million tons, mainly due to increased exports to Turkey.
