MOSCOW: Russian wheat export prices remained flat last week, while shipments declined amid low demand and competition from other suppliers, analysts said.

Dmitry Rylko, head of the IKAR consultancy, said that the price of Russian wheat with 12.5% protein, set for free-on-board (FOB) delivery in December, was $226 per metric ton at the end of last week, unchanged from the previous week. He said that the cheap supply of wheat from exporters in the southern hemisphere kept a lid on prices.

The Sovecon consultancy said prices for Russian wheat with the same protein content and on the same delivery terms were at $228-231 per ton compared to $228-$230 the previous week.