MOSCOW, July 14. /TASS/. Export prices for Russian wheat have decreased amid a record crop being successfully harvested, Chairman of the Union of Grain Exporters Eduard Zernin told TASS.
"The harvesting of a record crop is the key factor, of course. The cost of wheat with 12.5% of protein in the ports of Novorossiysk FOB-based has dropped to $360 per tonne compared to $370 in the previous week," he said.
The cost of wheat with 11.5% of protein totals $345 per tonne, he said. The prices have been falling since the beginning of June when the price of wheat harvested this season amounted to $442 per tonne in the first tender of the Egyptian state company GASC, the expert noted.
That said, the four-party meeting on the ‘grain corridor’ with the participation of delegations from the Russian Federation, Turkey, Ukraine and representatives of the United Nations that has taken place in Istanbul, did not notably influence the wheat price, Zernin added. "The expectations are mainly priced in," he said.
The Agriculture Ministry projects the country’s grain harvest at 130 mln tonnes this year, including 87 mln tonnes of wheat.