Prices for food wheat in Ukraine growing at record speed - market analysts

MOSCOW. Jan 29 (Interfax) - The prices for food wheat in Ukraine are continuing to grow rapidly, and milling businesses currently agree to pay from UAH 6,800 to 7,700 per tonne of 2nd grade wheat, Ukrainian media have reported with reference to the APK-Inform news and analytical agency.

"The prices are pushed up by insufficient offer of food wheat, as farmers are keeping sales down, as well as high demand by processing and export-oriented companies and growing competition between them," it said.

As of January 26, the CPT prices for 2nd grade wheat in Ukraine varied between UAH 6,800 and 7,700 per tonne, having grown by UAH 300-500 from the previous week, it said.

Moreover, there is almost no offer on the market now even at maximum prices, APK-Inform said.