Indian demand raises the price of Ukrainian wheat
According to the updated data of the Ministry of agriculture grain harvest in India in the current marketing year may is 11.6 million tons higher than last season and reach 136.2 million tone. Recall that in 2014/15, the country had grown 138,9 million tons of grain.
beginning stocks of grain are estimated at 16.4 million tons last season the experts were more optimistic in their forecasts. A year earlier the figure was over 20.3 million tonnes, as in the season 2014/15.
the Volume of offer of grain in 2016/17 MG is projected at 155,8 million tons, while a month ago the experts estimated it at 0.1 MT lower. In the previous season the figure was 10.3 million t less, and in 2014/15 the proposal amounted to 159.5 million.
unlike previous years, will significantly increase grain imports, rising from 0.6 million tons to nearly 3.2 million ton. Since begining of season the Indian traders to contract Ukrainian wheat. After the recent reduction in import duty from 10% to 0% demand for Ukrainian grain rose again, which pushed prices for food wheat for $ 2-3 up.
the purchase Price of wheat in Ukraine delivery to the port is now:
- 2клас 161-164 $/t or 4850-4900 UAH/t,
- 3клас 159-162 $/t or 4800-4850 UAH/t,
- feed 153-154 $/t or 4500-4650 UAH/t