Latest news with #DmitryRylko
Zawya
7 days ago
- Business
- Zawya
Russia aims to boost grains, vegoil exports to Iran
MOSCOW: Russia aims to boost grains and vegetable oil exports to Iran through the Caspian Sea in the coming months, thanks to an anticipated larger harvest this year and an end to trading restrictions, market analysts and traders said on Tuesday. Trade between Russia and Iran, both heavily sanctioned by the West, grew by 16% to $4.8 billion last year. It primarily goes through the inland Caspian Sea, whose coastline is shared by Russia, Iran, Kazakhstan, Azerbaijan, and Turkmenistan. "There is potential to increase our supplies of corn, barley, and sunflower oil to the Iranian market," said Andrei Kucherov, head of agriculture at Reksoft, a consulting firm, partly owned by billionaire Vladimir Potanin's Interros holding. Igor Pavensky, chief analyst at rail carrier Rusagrotrans, said Iran could triple Russian wheat imports to 3-4 million tons in the coming season and boost corn and barley imports to 3.6 million tons from 2.6 million. Iran is the largest buyer of Russian corn and the second-largest buyer of Russian barley. After a pause due to a good harvest last year, Iran resumed wheat purchases from Russia in March, becoming the third-largest buyer in May. "We are expecting a record sunflower seeds harvest this year. Corn, as well as barley and wheat, are in a good shape. So we have all the possibilities there (to increase supplies to Iran)," said Dmitry Rylko, head of IKAR consultancy. Russian traders said Iran explored the pricing and availability of corn and barley from Russia over recent days. Afghanistan is also in talks with Russia to import certain foodstuffs, a minister told Reuters recently. HEALTHY DEMAND Russia is expecting to harvest 135 million tons of grain this year, including 90 million tons of wheat, compared with 130 million tons of grain and 83 million tons of wheat in 2024. Iran's harvest is expected to be lower this year due to drought. Iran's ability to trade internationally has been hit by President's Donald Trump's maximum pressure campaign, re-launched in February to drive down oil exports, as well as by surprise Israeli air attacks since last week. Russian traders are preparing for the new grain marketing season, which begins on July 1, with an opportunity to export all grains without restrictions until February 2026, when exports will be limited by quotas. Russia has set zero export quotas for barley and corn in the second half of the 2024/25 marketing season, effectively banning exports, which are due to resume next week. Traders said Iranian partners were actively discussing potential purchases. "There was healthy demand from Iran," said one trader, who spoke on condition of anonymity. According to IKAR consultancy, Iran was the second-largest buyer of Russian grain after Egypt in the 2024/25 marketing season. A second trader confirmed that talks were taking place and said he expected barley and corn trade flows through the Caspian Sea to resume after July 1. Corn accounted for 20% of Russia's total exports to Iran, while barley accounted for about 6%.
Business Recorder
24-06-2025
- Business
- Business Recorder
Russian wheat export prices up following global rates
MOSCOW: Russian wheat export prices rose last week, tracking global rates amid rising geopolitical tensions and weather problems in a number of countries, including Russia, analysts said. The price for new crop Russian wheat with 12.5% protein content for free-on-board (FOB) delivery by July-end was $227 per metric ton at the end of last week, up $5 from the previous week's prices, said Dmitry Rylko, head of the IKAR consultancy. The SovEcon consultancy estimated new crop offers at $226-$230 per ton, compared with $225–$229 the week before. '(Russian wheat's) competitive edge improved significantly after a sharp rise in European prices,' SovEcon wrote in a weekly note. SovEcon lowered its estimate of wheat exports in June to 1.2 million tons from 1.5 million tons. IKAR maintained its estimate at about 1 million tons. Rusagrotrans raised its export forecast for June 2025 to 1.25 million tons from 1.06 million tons. The railway operator estimated exports in July 2025 at the same level as a year before, at 3.6 million-4.0 million tons. The harvesting campaign started in a number of Russian regions. Grain sowing slowed after a fast start, reflecting reduced profitability, SovEcon said. The agency reduced its forecast for spring wheat acreage in Russia to the lowest for the decade, at 11.8 million hectares from 12.7 million hectares, against 12.3 million hectares in 2024. Last week, Rostov was joined by another of the country's largest grain-growing regions, Krasnodar, in declaring a state of emergency due to drought in northern districts. At the same time, the Ministry of Agriculture expects a harvest slightly higher than last year. The wheat harvest could reach 90 million tons, Minister Oksana Lut said last week. New season wheat exports are forecast at 45 million tons.
Business Recorder
03-06-2025
- Business
- Business Recorder
Russian new crop wheat export prices remain flat amid weak activity before new season's start
MOSCOW: Prices for new crop Russian wheat remained unchanged last week as trading in old crop supplies has nearly stopped and the market is waiting for the start of the new marketing season with possible changes in export regulations, analysts said. The price for new crop Russian wheat with 12.5% protein content for free-on-board (FOB) delivery in the second half of July was $225 per metric ton, same as a week ago, said Dmitry Rylko, head of the IKAR consultancy. IKAR upgraded its estimate of wheat exports in May to 2.1 million tons from 1.7-1.9 million tons a week ago. Wheat exports in June are estimated at 1.2 million tons. The Sovecon consultancy estimated prices for Russian old crop wheat with 12.5% protein content at $240-243 per ton FOB compared to $248-250 per ton FOB a week before. New crop offers are being discussed at $225–230 per ton. According to the agency, the price dynamics was affected by a potential change in the calculation of export duties announced last week by Russian Deputy Prime Minister Dmitry Patrushev. He said Russia will reduce exports to 44.5 million metric tons of wheat and 53 million tons of grain in the 2024/25 season. Sovecon upgraded the forecast for May wheat exports by 0.1 million tons to 1.9 million tons.
Business Recorder
13-05-2025
- Business
- Business Recorder
Russian wheat prices flat
MOSCOW: Russian wheat export prices were unchanged last week amid low market activity, analysts said. The price for Russian wheat with 12.5% protein content for free-on-board (FOB) delivery in early April remained at $247 per metric, as the week before, said Dmitry Rylko, head of the IKAR consultancy. 'The market is very sluggish', he said. Russia had a three-day working week last week due to public holidays. IKAR and Rusagrotrans rail carrier estimated April wheat exports at 2.3 million tons. May exports are expected at 1.8 to 2.0 million tons, Rylko said. Analysts at IKAR and Rusagrotrans noted an increase in April shipments to Turkey, Iran, Egypt and Libya. IKAR last week raised wheat production and export forecasts for this season. Nevertheless, spring frosts in the centre of the country have led to the destruction of some crops. The Voronezh region announced on Monday that it was preparing to declare a state of emergency. The sugar industry lobby, Soyuzrossakhar, reported that about 12% of sugar beet crops were lost due to cold snaps in April-May.
Business Recorder
05-05-2025
- Business
- Business Recorder
Russian wheat prices down as new crop approaches market
MOSCOW: Russian wheat export prices fell last week as the new crop approached the market, with no confirmation of significant crop damage from past frosts, analysts said. The price for Russian wheat with 12.5% protein content for free-on-board (FOB) delivery late March to early April down $2 to $247 per metric ton compared with the previous week, said Dmitry Rylko, head of the IKAR consultancy. The Sovecon consultancy estimated prices for Russian wheat with 12.5% protein content at between $249 and $250 per ton FOB for the middle of last week, compared with $249-$251 last week. New crop offers are around $234–235 per ton. Sovecon raised its estimate for April wheat exports by 0.1 million tons to 2.3 million tons, still substantially lower than the 4.6 million tons exported in April 2024. Trading activity on the domestic market is expected to remain limited during the first half of May, with May Day and Victory Day holidays in Russia on May 1–2 and May 8–9, the agency wrote in a weekly note. IKAR has not yet changed its export estimates over 2.1 million tons for April wheat exports. Rusagrotrans rail carrier raised its April export estimate to 2.3 million tons from 1.9 million tons due to stronger demand from Turkey, which shipped 355,000 tons in April, 2.3 times more than in March, and Iran with 270,000 tons (1.9 times more). The forecast for May exports is about 1.9 million tons. Sovecon last week raised its forecast for Russia's wheat export for the 2024/2025 and 2025/26 season, noting that under current circumstances it does not expect a significant acceleration of exports. IKAR and SovEcon analysts do not believe that short-term frosts in the European part of the country were able to significantly damage crops.
