Russia advises exporters not to sell wheat at tenders below $250/t
On October 11, 2024, a closed meeting of Russian grain exporters was held, which resulted in the identification of 13 countries to which Russian grain and grain products will be exported without foreign intermediaries: Egypt, Tunisia, Algeria, Morocco, Jordan, Saudi Arabia, Bangladesh, Qatar, Kuwait, South Korea, Pakistan, and India.
It was also decided to exclude foreign intermediaries from the supply chain of Russian wheat and other grain products.
The Russian Ministry of Agriculture advised exporters not to sell wheat at tenders below $250/t FOB.
The Union of Grain Exporters announced export prices for wheat on FOB Novorossiysk terms at $240/t for October, $245/t for November and $250/t for December.
Starting October 23, the export duty on Russian wheat will be 2131.2 rubles per ton.
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