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Asharq Al-Awsat
Asharq Al-Awsat
World
Asharq Al-Awsat

Russian Wheat Prices Down as New Crop Arrives, Export Tax Falls

Russia IKAR FOB Black Sea Chicago Protein
European wheat prices rose after Egypt bought French wheat for the first time in almost a year. (Reuters)

Russian wheat export prices fell last week due to pressure from the new crop, which farmers have just started harvesting, a reduced export tax and a decline in Chicago prices, analysts said on Monday.

Sanctions-hit Russia reduced its grain exports taxes sharply last week to support shipments in the July-June marketing season, Reuters said.

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