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AMIS Market Monitor

last release: Nov 2017

Policy Developments

  • On 10 October, China authorized the sale of 2 500 tonnes of imported wheat from state reserves at an average price of CNY 2 564 (USD 387) per tonne. 
  • On 10 October, the Russian Federation announced the selling of 1.5 million tonnes of wheat from state reserves in order to reduce expenditures on maintaining stockpiles. 
  • On 19 October, the government of Ukraine agreed with traders that the maximum volume for wheat exports in July 2017 – June 2018 will be 16.5 million tonnes.
  • On 24 October, India has announced that it will raise the minimum support price for wheat by 6.8 percent from INR 1 625 per quintal (USD 249.7 per tonne) in 2016/17 to INR 1 735 per quintal (USD 266.6 per tonne) in 2017/18.
  • On 24 October, Brazil’s agriculture ministry requested approval from the country’s foreign trade chamber for a duty-free quota of 750 000 tonnes of wheat for local processors to import from outside the Mercosur trade bloc. 
  • On 27 October, China lowered the wheat minimum purchase price for 2018 to CNR 2 300 (USD 345.6) per tonne, a drop of 2.5 percent from this year.