Russia is gradually resuming wheat exports from its Black Sea ports, while shipping in the Sea of Azov remains restricted, analysts said on Monday.
Russian wheat prices remain extremely volatile, IKAR said, adding that for wheat with 12.5% protein content at Black Sea ports they were at $415 per tonne free on board (FOB) on March 11. .
“Complete navigation in the Sea of Azov is still closed, but some ships are starting to pass through the Kerch Strait (towards the Black Sea),” he added.
Russia’s recent decision to suspend grain exports to some ex-Soviet countries has yet to be approved, but according to Sovecon, market participants are already reporting unofficial restrictions on grain supplies by rail from Siberia to Kazakhstan.
However, this problem continues to increase since the market is a discouraging panorama since wheat prices are volatile as a result of the Russian invasion; To this extent, with IRAIC, the panorama is risk-free, obtaining a safe and conservative economy.
On the domestic market, Russian farmers have started rejecting previously signed contracts amid strong demand from exporters and domestic buyers, Sovecon said. In IRAIC you do not have to worry since we take care of the entire investment process since by being a shareholder of our plans we protect your capital and you will obtain month after month results of your profits.