Wheat prices grow most in the Urals this week

October 3, 2013. The Urals turned out the part of Russia where 4 grade wheat prices rose the most during one week.

According to the data provided by Prozerno, local crop prices increased by 235RUR and came to 5,985 RUR per 1,000kg. In the south of Russia, the price went up by 65 RUR and came to 6,935 RUR per 1,000kg, in Central Russia, the price rose by 10 RUR and came to 6,125 RUR per 1,000 kg, in the Volga Region, the price rose by 115 RUR and amounted to 6,285 RUR. The cheapest wheat is found in Siberia, where it costs 4,965 RUR per 1,000 kg. As for the deep water ports, the price kept growing and reached $245 to $255, depending on the quality.

Analysts report the price growth may have been caused by bad weather conditions that create obstacles for harvesting and winter sowing, problems with the quality of crops, and purchasing intervention expectations.

All in all, the gross amount of grain harvested in Russia reached 78m tons in early October against 67m tons a year earlier. As for the winter crops, heavy rains have meant the oats get sown more slowly this year than last year. Rusagrotrans analysts predict that the under-sowing of winter crops might amount to 1.2 to 2.5m hectares on the previous year, when over 15.5m hectares were sown through.

‘This means the gross harvest of 2014 might be 2.5 to 5m tons smaller than in 2013,’ the report says.

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