Wheat prices in Ukraine are rising: food prices in ports already reach $227/t

Quotations were supported by active demand from domestic consumers, limited supply and growth in export prices at ports.

The Ukrainian wheat market maintained a price increase trend last week, although mostly within the already established range. This was reported by analysts of APK-Inform IA.

The key factors supporting the market remained high demand from domestic consumers, insufficiently active grain supply and corresponding dynamics in the export direction.

“Prices were supported by fairly high demand from domestic consumers, insufficiently active grain supply and corresponding dynamics in the export market. Offers of flour-milling wheat came at maximum prices and in small volumes,” analysts note.

Demand prices for food grade 2 wheat during the week mainly fluctuated within 10,000–11,100 UAH/t on the basis of the CRT.

Feed wheat was traded mostly in the range of UAH 9,100–10,000/t CPT, although in the southern regions prices reached UAH 10,600/t.

Export prices also increased in seaports of Ukraine. Food wheat rose by $2–4/t to $220–227/t CPT, while feed wheat rose by $216–221/t CPT.

Also, the day before, USM wrote that Ukrainian soybeans had risen in price against the backdrop of a revival of exports.