Black Sea suppliers offer new crop wheat to Asia at $300/T
Wednesday, 13 March 2013
SINGAPORE: Black Sea grain exporters are aggressively marketing new-crop wheat into Asia and the Middle East, offering competitive prices and heating up competition for rival supplier, India, traders said on Wednesday.
Black Sea wheat is being offered around $300 a tonne into southeast Asia as compared with Indian prices around $315 to $320 a tonne for July shipment.
"The crop is looking very good in Ukraine. We expect bumper exports this year," one Dubai-based trader, which sells Black Sea grain into the Middle East and Asia, told Reuters.
Initial offers for wheat are at $265 a tonne FOB, which should come to around $300 a tonne on a C&F basis, he added. (Reuters)