Romanian milling wheat FOB price were the highest from March 2023
Romanian milling wheat FOB price in late August were the highest from March 2023, supported by Black Sea logistics risks and strong import demand from Saudi Arabia, North Africa and the EU. Over the month, the price increased by approximately $30/mt FOB Constanța and was around $50/mt above last year.
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.
More detailed information on the latest trends in grain exports, supply and demand balances with breakdown by crop, price behavior, crop conditions and progress in harvesting/planting in the countries of Black Sea Region is available to subscribers for Online Analytics “Black Sea & Danube Grain Market” in the new innovative tool for agri market participants – AgriSupp by UkrAgroConsult. Subscribe to a 7-day free trial!
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