Food wheat price in Ukraine falls UAH 100-200/tonne due to flour surplus

MOSCOW. Feb 20 (Interfax) - Most Ukrainian flour mills started to lower purchase prices for food wheat last week, Ukrainian media reported, citing the APK-Inform agency.

"Prices are being pressured by export grain sector trends and a slight decrease in demand from traders, as well as difficulties selling finished products, especially flour, and the significant build-up of stocks at some mills," the agency said, adding that insufficient supply milling quality wheat was preventing more considerable price drops.

Most mills were willing to pay UAH 6500-7600/tonne and UAH 5700-7000/tonne CPT for second and third class wheat, respectively, as of February 16, which was UAH 100-200 lower than the end of last week, APK-Inform said.

Official exchange rate was 37.9719 UAH/$1 on January 19.