Russia: Wheat price decline


Price of wheat in Russia declined last week. Harvest is on the way, ramping up. Russian farmers had harvested 37 million tonnes of grain. Black Sea forward prices for Russian wheat with 12.5 percent protein content were at 188 USD/t FOB. Domestic prices for third-class wheat were down. This year harvest has been delayed by rains

which have cut exports together with export duty imposed by the Government. Agriculture Minister Alexander Tkachev said 2015 grain harvest could reach 101.5 million tonnes.