Wheat prices have declined on all major global exchanges.
It also affects Russian export prices: they also begin to «squat».
According to the Institute for Agricultural Market Studies (IKAR), in Novorossiysk over the past week, the price of a ton of wheat of the new harvest (futures) fell to $ 260.
And according to the information of the agency Sovekon, wheat of the old harvest fell by $ 3 (to 272 per ton).
At the same time, on the domestic market, the cost of a ton of wheat per week increased by 75-100 rubles and amounts to 14450-14550 rubles.
It is noted that Russian traders are not yet ready to compete with their counterparts from other countries .
For example, at the Egyptian GASC tender at the beginning of the week, Russian companies lost: they were able to offer their products only at a price of $ 264 per ton, while Ukraine put up an offer at $ 260, Romania at $ 254.
Will anything change after June 2nd?
Everyone is waiting for this date, when the floating duty will be introduced.
Russian manufacturers and exporters are looking forward to it. Duty reduction will allow you to sell your products much more profitably .
The farmers most likely have large reserves of old-crop wheat. As soon as the duty is reduced, it will immediately flood the market.
That is why foreign manufacturers and exporters are anxiously awaiting June 2.
For example, French traders are worried that the competitiveness of Russian wheat will rise sharply in a week.
And they have something to worry about, because they are still losing: at the aforementioned tender in Egypt, the French offered their wheat at even higher prices than Russia.
So it would not be an exaggeration to say: the whole world is now expecting a change in the Russian export duty.
Depending on how much wheat reserves are in reality left in warehouses (and this is still an intrigue), in the next 10 days, the situation on the world wheat market, and prices for it, and the volume of Russian exports may seriously change.
