Global wheat markets are hampered by the large export capacity of Black Sea grain producers, which results in a surge of cheap Russian/Ukrainian wheat shipments.
Australian wheat markets are experiencing lower prices due to harvest pressure and a stronger Australian dollar. Limited containerized export sales to SE Asia with pricing being quote APW USD 305 to USD 310 pmt – CFR major SEA ports & APH2 being quoted sub-USD 380’s pmt vs competing CWRS in bulk cheaper under USD 350’s into SEA.
In Desi chickpeas, sluggish demand for new crop coming from offshore market. Containerized business demand is limited for all destinations and no strong inclination of Australian sellers to sell at lower values. Keeps the market illiquid.
In lentils, VIC & SA lentils price roses due to market shorts to fill in early packing slots, despite of rise in Australian dollar since last week. VIC harvest deliveries have started.
In India, we are observing not much trade demand for Australia red lentils from the market. We heard trade offers for Nipper/Hallmark#1 to USD 725 levels in containers with no buying interest. Limited trades reported last 2 weeks between USD 715 to USD 720 pmt mark.
In Pakistan, observing minimal demands for Australian lentils. As we heard the Nipper/Hallmark#1 trade offers USD 725/mt levels to CFR Karachi in containers to final buyer.
In Bangladesh, we are getting enquiries for canola min.42% & also we heard that GM canola min.42% traded at USD 545/mt levels to CFR Chittagong in containers.
In Nepal, no major demands for Australia lentils & desi chickpeas. While in canola we see couple of inquiries last week with limited buyer interest. Buyers seeking values of USD 580+/- CFR Birganj with limited trades reported last week, Australia market remains strong with ongoing VIC canola seed harvest values not allowing any trade margins at these CFR values.
In Egypt, sluggish demand for Faba beans & lentils since last 3 weeks. We heard that Faba beans trade offers at USD 425/mt to CFR Damietta, though limited selling interest at these values and currency availability continuing issue with this destination.
Disclaimer: Prices mentioned are for indication purpose only
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