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New-crop Ukrainian wheat offered in Asia at around $390/T

New-crop Ukrainian wheat is being offered in Asia to be shipped from Romania for the first time since Russia’s invasion, although there have not been many deals because of higher freight costs, two Singapore-based traders said.

Freshly harvested wheat from the war-torn country is being transported by land to Romania from where exporters are offering milling wheat at around $390 a tonne, Free on Board (FoB), they said.

“As of now buyers are not taking it as cargoes being offered are smaller in size and it is not viable to ship it to Asia given the high cost of freight,” said one of the traders who ships Black Sea grains to Asia.

“There are offers being made to ship Ukrainian wheat cargoes of around of 25,000 tonnes each from Romania’s port of Constanta.”

Ukraine has been using Romania’s port of Constanta as an alternative route since Russia blocked its Black Sea ports almost four months ago.

Traders said Asian millers are still keen on Australian supplies.
Source: Reuters (Reporting by Naveen Thukral)

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