Russia launched a special military campaign in Ukraine on February 24, on the orders of President Vladimir Putin.
“Exports are continuing from all five (grain export) ports on the Black Sea,” Reuters quoted agricultural consultancy ICAR in a note.
She added that Russian wheat prices are still very volatile, noting that the price of wheat, which has a protein content of 12.5 percent, for free on board (FOB) reached $415 per ton from Black Sea ports on March 11.
Sofcon, another consultancy, reported that Russian ports on the Black Sea loaded 400,000 tons of wheat last week, and that ships were entering and leaving ports there.
“Full navigation in the Sea of Azov is still suspended, but some ships have started crossing the Kerch Strait (to the Black Sea),” she added.
Sofcon said farmers in the local market have started refusing to pre-sign contracts amid strong demand from local exporters and buyers.
Russia’s recent decision to suspend grain exports to some countries in the former Soviet Union has yet to be approved, but Sovcon said market players have already reported unofficial restrictions on grain supplies via rail lines from Siberia to Kazakhstan.
Russian wheat exports have fallen 45.4 percent since the start of the 2021-2022 marketing season on July 1, due to a poor harvest and an export tax set at $86.3 per ton from March 16 to 22.
Sofcon said a frost is expected in a number of Russia’s winter wheat-producing regions this week, but heavy snow cover will keep the seeds safe.
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