Romanian milling wheat FOB price were the highest from March 2023

UkrAgroConsult

At the end of August, Romanian milling wheat prices on a FOB Constanta basis reached their highest level since March 2023 amid logistics risks in the Black Sea region and strong import demand from Saudi Arabia, North African countries and the EU. Over the month, the price increased by around $30/t FOB Constanta and was nearly $50/t higher than a year earlier.

Last week (August 28–September 4), the average price of Romanian milling wheat rose by another $3/t, reaching a new seasonal high of $288/t FOB. This level is significantly above comparable domestic prices in Ukraine and Russia.

By the end of last week, the pace of price growth had slowed as the market assessed statements from the Russian side regarding the possibility of a peace agreement with Ukraine. This once again confirms that part of the price increase is driven by short-term geopolitical factors.

Source: UkrAgroConsult database AgriSupp

The average Romanian milling wheat price rose by $5/mt last week (August 28–September 4) to a new seasonal high of $288/mt FOB. This level contrasts sharply with comparable domestic prices in Ukraine and russia.

Price growth slowed last Friday, as the market assessed russian comments about the possibility of a peace agreement with Ukraine. This again confirms that part of the price increase is situational and geopolitical. Any credible improvement in the Black Sea security could quickly reduce the risk premium. Romanian wheat prices most likely remain firm in the short term.

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Tags: Black Sea region, wheat, flour, logistics, milling wheat, Constanta, Romania, prices