MOSCOW: Russian wheat prices rose last week as the government had yet to decide on whether to change its export tax system, analysts said on Wednesday.

There has been uncertainty over the current tax regime in Russia, one of the world’s largest wheat exporters, with concerns over possibly tougher limits sending global prices higher.

Russian Deputy Prime Minister Arkady Dvorkovich, who is in charge of agriculture, said on Feb. 19 that the government had not yet taken any decision on whether to change the export duty.

Black Sea prices for Russian wheat with 12.5 percent protein content were at $181 a tonne on a free-on-board (FOB) basis at the end of last week, up $2 from a week earlier, Russian agricultural consultancy IKAR said in a note.

SovEcon, another Moscow-based consultancy, quoted FOB wheat prices in the Black Sea area at $181.5 per tonne, up $0.5.

According to IKAR, wheat prices in the Azov Sea were at $151 per tonne. Black Sea corn (maize) prices were flat at $166 a tonne, SovEcon added.

Russia exported 23.8 million tonnes of grains, including 17.8 million tonnes of wheat, between July 1 and Feb. 17, the agriculture ministry said. The pace of grain exports was down 0.4 percent year on year.

Domestic prices for third-class wheat added 50 roubles compared with the end of the week earlier to 11,450 roubles ($150) a tonne in the European part of Russia on an ex-works basis, according to SovEcon. Ex-works supply does not include delivery costs.

SovEcon also said average prices for sunflower seeds were up 75 roubles at 26,675 roubles a tonne. Domestic sunflower oil prices were down 675 roubles to 59,000 roubles a tonne, while FOB Black Sea export prices were up $5 to $780 a tonne.—Reuters