Russia’s Agriculture Ministry has instructed exporters to refrain from selling wheat below the $250 free-on-board (FOB) price at international tenders. Key points include:
Policy Announcement: During a closed-door meeting, the ministry emphasized the importance of maintaining this price threshold to support the domestic grain market.
Direct Deals Encouraged: Exporters were advised to engage in direct transactions with buyers, eliminating third-party intermediaries.
Export Potential: The Russian Grain Exporters Union projected the country’s grain export potential for the 2024/25 season to be between 55-57 million metric tons.
Russia Sets Minimum Wheat Price for Exporters