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Despite the traditional seasonal decline in activity during the holy month of Ramadan, importers continue to show interest in grain purchases. In particular, traders report that Egypt remains interested in purchasing Ukrainian wheat in the coming weeks.
According to their data, the market recorded interest in purchasing up to 25 thousand tons of wheat originating from Ukraine or the Black Sea region with a protein of 11.5% at a price of about $250/t C&F for delivery in March. Wheat with a protein content of 12.5% was estimated at about $253/t C&F for delivery in February.
Traders note that demand during Ramadan traditionally slows down due to a decrease in trade activity in Muslim countries. At the same time, Egypt’s stable need for grain imports supports interest in Ukrainian wheat and restrains a more significant drop in prices on the Black Sea market.
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