Price increases may be permanent
Analysts explained that from early June to mid-July, wheat prices in Russian deep-water ports fell by 3,350 rubles per tonne to 14,750 rubles per tonne.
In recent weeks, however, the Russian wheat market has returned to growth due to reduced supply in the south. In early August, port prices rose by 1,000 rubles to 15,750 rubles per tonne (1 ruble = 0.0461 PLN, NBP 2024-08-07).
Experts are not yet sure about the sustainability of this price increase, as wheat supply will remain at a historically high level, which is due to the difficult financial situation of agricultural producers and prohibitive credit rates.
