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UKRAINIAN GRAINS MARKET

EXPORT SECTOR

Within reporting week Ukrainian domestic grains market retained last few weeks tendencies. As earlier, traders actively made only feed maize purchase/sale contracts.

As previously, within this week feed barley export prices remained low due to domestic market feed barley slack demand/offer absence.

Within reporting week domestic/export markets wheat trade was very slack. Though potential importing countries demonstrated high interest in Ukrainian food/feed wheat, they couldnt completely agree with Ukrainian exporters offer prices.

This week main news were as follows:

 — as to Ukrainian Ministry of Agrarian Policy and Food data, country agrarians have sown grains (as of this year Mar 28) on 559,000 ha (of total this year planned 9,000.000 ha). However, bad weather has slightly slowed sowing campaign within this week. Within this year agrarians will sow grains on total 15.8 mn ha.

 — Ukrainian this year Mar 1–23 grains export equaled to 1.46 mn MT (almost same as within this year Feb — 1.48 mn MT), incl. maize — over 1 mn MT, wheat — about 250,000 MT and barley — 195,000 MT;

 — Within this year Agrarian Fund is going to purchase about 2.2 mn MT grains (incl. 2 mn MT wheat, 90,000 MT barley and 110,000 MT rye) for State reserves. It is to be reminded, in 2011 Agrarian Fund had purchased about 1.3 mn MT wheat.

Barley

As earlier, within reporting week domestic market feed barley was offered in just small lots (100–200 MT), what didnt suit big exporters which needed only large lots to form feed barley vessel lots for export shipments.

This week traders feed barley purchase prices ranged within UAH1,800–1,930 per MT, CPT Black Sea ports and UAH1,600–1,770 per MT, EXW-ex-elevator (depending on regions/lots).

As of this week, Ukrainian feed barley export prices ranged within US$255–265 per MT (FOB Black Sea deep water ports, big lots).

Wheat

Within reporting week Ukrainian domestic/export wheat markets retained previous tendencies. As of this week, part grains owners preferred to abstain from grains reserves sales in anticipation for more precise information about winter grains sown areas condition and spring sowing campaign.

As of this week, feed wheat purchase prices remained unchanged against previous week: UAH1,550–1,730 per MT (EXW-ex-elevator) and UAH1,700–1,850 per MT (CPT Black Sea/Azov Sea ports).

This week feed wheat export offer prices ranged within US$240–250 per MT (small-sized Coaster type vessls) and US$250–258 per MT (Handysize/Panamax type vessels).

Within this week Ukrainian food wheat was demanded only in Illichivsk, Myckolayiv and Odesa ports; in other ports food wheat wasnt purchased due to global market demand absence.

Within this week domestic market 3 and 2 classes food wheat purchase prices were correspondingly UAH1,650–1,750 per MT (EXW-ex-elevator) and UAH1,700–1,800 per MT (EXW-ex-elevator).

At same time, there were just few traders which continued purchasing food wheat at UAH1,850–1,950 per MT (depending on quality/lots) on CPT Black Sea/Azov Sea ports basis.

It is to be admitted, within this week food wheat (11.5% protein content) export settlement prices (with domestic/global prices taken into account) ranged within US$265–275 per MT (offer).

Maize

Within reporting week Ukrainian domestic/export markets feed maize demand was up against previous week. It is to be admitted, exporters had to significantly raise their domestic market feed maize purchase prices in order to attract sellers and accelerate shipments due to vessels having had arrived, tough competition between exporters and feed maize ports reserves insufficiency.

However, within this week Ukrainian feed maize big lots owners, in their turn, appeared to be quite reluctant to sell their maize reserves as they anticipated for prices further growth.

Within this week EXW-ex-elevator basis feed maize maximum and minimum purchase prices have slightly grown, up to UAH1,700–1,880 per MT; prices depended on shipments regions, contract conditions, seller status (middleman or producer) and purchasers demand volumes. It is to be admitted, within this week feed maize average purchase price was gradually going up due to global market growth tendency.

Thus, on CPT Black Sea/Azov Sea ports basis, feed maize purchase prices have improved toUAH1,900–1,980 per MT, depending on lots, quality and shipments urgency.

Within reporting week Ukrainian feed maize export guiding prices fluctuated within US$260–270 per MT (FOB); most export sales were made averagely at US$265–268 per MT (FOB). It is to be admitted, by end previous week feed maize export prices had boosted up to US$272 per MT (FOB), but then slightly declined due to global market conjuncture change.

Feed barley ports purchase prices

(demand)

FOB (offer)

UAH per MT

US$ per MT

US$ per MT

28.03.2012

1,800–1,930

240–250

255–265

21.03.2012

1,750–1,900

244–250

260–265

13.03.2012

1,750–1,900

249–260

265–275

06.03.2012

1,750–1,900

249–260

265–275

Feb 2012

1,750–1,860

249–260

265–275

Jan 2012

1,635–1,720

245–250

252–266

Feed wheat ports purchase prices

(demand)

FOB (offer)

UAH per MT

US$ per MT

US$ per MT

28.03.2012

1,700–1,850

231–241

250–258

21.03.2012

1,700–1,850

236–243

255–260

13.03.2012

1,700–1,880

231–243

250–258

06.03.2012

1,700–1,880

231–243

243–258

Feb 2012

1,700–1,840

231–245

244–259

Jan 2012

1,585–1,685

217–229

230–238

Feed maize ports purchase prices

FOB/DAF*

UAH per MT

US$ per MT

US$ per MT

28.03.2012

1,900–1,980

239–249

260–270

21.03.2012

1,860–1,940

240–250

265–272

13.03.2012

1,820–1,880

235–245

260–268/226–232

06.03.2012

1,820–1,900

235–245

255–265/225–230

Feb 2012

1,850–1,935

236–247

257–267/225–230

Jan 2012

1,725–1,810

234–243

249–259/227–233

*- Ukraine/RF

09.04.2012


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