Russian wheat exporters are putting pressure on farmers to reduce
domestic prices in response to the strengthening rouble, which makes
Russia, a major wheat exporter, less competitive on the global
market.Domestic prices in rouble terms are already declining in Russia's
southern regions but that does not offset the two percent growth of the
rouble currency against the dollar last week.
Black Sea prices for Russian wheat with 12.5 percent protein content
were at $184 a tonne on a free-on-board (FOB) basis at the end of last
week, up $4.5 compared with a week earlier.Amid the rouble growth and
slow decline in the domestic prices, exporters have to increase prices
for the Russian wheat.
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