World market - Fork Cast

Export restrictions on palm oil from Indonesia have prompted experts to predict a decrease in production and the maintenance of high prices. Malaysia may benefit from this, as consumers may turn to its palm oil. Rising prices have also led to an increase in the import of CPO from Malaysia.

The soybean harvest in Russia is expected to reach 7.35 million tons this year. 4.05 million hectares of land have been sown with soybeans, with a 22% increase in the Central District and a 15% decrease in the Far Eastern District. Amur Region is the leader in soybean production.

The soybean freight collection in the country increased by 13.7% in 2023 compared to 2022.

The price of August rapeseed futures in Paris fell by 4.5% due to prolonged rains, delaying the harvest. Rapeseed prices are on the rise due to high demand, but the drop in August futures is attributed to increased supplies. Prices for canola and rapeseed in Ukraine have also decreased. Traders are actively purchasing rapeseed for export to the EU.

Futures on sugar have risen due to planting issues in different countries. Contracts for raw sugar have increased by 1.4%, while prices for white sugar have grown by 0.8%. Traders predict a sugar shortage in 2023/2024 due to bad weather and technical problems in various countries.

The grain harvest in the Ryazan region started a week earlier. 157 thousand hectares have been threshed, 650 thousand tons of grain have been harvested. 1100 combines are involved, the number could increase to 1500. A record sowing area for 25 years - 1 million 140 thousand hectares. A good harvest is expected.

World wheat prices have fallen, while corn has become more expensive. Indicative prices in Russia have also changed. The grain harvest in the Russian Federation this year is significantly larger than the year before.

A bill simplifying GMO checks in seeds has passed its first reading. A contract has been signed for the construction of a hydroelectric complex in the Krasnodar region. Sales of agricultural machinery have dropped, while Rappoport is selling off assets in the grain business.

Russian farmers have signed more insurance contracts for crop areas. Customs duties on wheat have been reduced. Ukraine's grain harvest is expected to be 27 million tonnes.

The Minister of Agriculture of Bashkortostan has announced the replacement of imports in the seed production sector and the increase in agricultural exports. Within the framework of the event, the first agricultural drone created in Bashkortostan was demonstrated. It is planned to produce hundreds of such drones annually.

Prices for delivery decreased to $1079.99 per ton in January 2025, down by $9.97 in July 2024. During the last week, prices dropped by $2.27, but over the month they increased by $77.02. The maximum was $1813.90 in April 2022, and the minimum was $759.38 in September 2018.

On July 25, 2024, prices were $1020.29 per ton in August 2024 and $1079.99 in January 2025.

In India, there is consideration of restricting sugar exports due to minimal rainfall caused by the El Niño weather phenomenon. The shortage of rain may affect prices of sugar, legumes, and rice, increasing food inflation.

In the Tambov region, the harvest is successfully underway: peas and wheat have been harvested from 70% of the fields. It is predicted that the grain and sugar beet harvest will be no less than last year's. Government support contributes to the development of agriculture.

In the Trans-Baikal region, 148,000 sheep were sheared, collecting 391.5 tons of wool. The best indicators were in Aginsky district (86.2 tons), Mogoytuisky district (77.3 tons), and Borzinsky district (43.4 tons).

Wool sales for processing amounted to 102 tons. The governor has launched a program for the development of sheep farming until 2030.

The Central Bank of Russia has increased the key rate by 200 basis points to 18%, announcing a possible further tightening of policy due to rising inflation. The inflation forecast for 2024 has been raised to 6.5–7.0%, with an expected decrease to 4.0–4.5% in 2025. The Central Bank's goal is to achieve 4% inflation in 2023.