# Exclusive: Russia sets price floor for wheat at international tenders, sources say

> Russia has set a recommended de facto price floor of $250 per metric ton on a free-on-board basis for wheat sold in international tenders, according to sources. The move aims to curb exports that had been flowing at high volumes as domestic inflation runs near 9%.

- Date: 2024-10-11 · published 2024-10-11T12:00:00.000Z
- Category: policy · region Russia · magnitude high
- Page: https://feedsoft.ai/events/27907-exclusive-russia-sets-price-floor-for-wheat-at-international-tenders-sources-say
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

A minimum export price limits how cheaply Russian wheat can be sold abroad, reducing export competition and supporting global wheat prices.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-08-26 | [India restricts wheat flour exports to bring down record prices \| Reuters](https://feedsoft.ai/events/39987-india-restricts-wheat-flour-exports-to-bring-down-record-prices-reuters.md) | +0.4% | +5.3% |
| WHEAT | 2023-04-21 | [Russian wheat trade falls silent as price floor leaves market 'broken'](https://feedsoft.ai/events/36463-russian-wheat-trade-falls-silent-as-price-floor-leaves-market-broken.md) | -8.6% | -9.9% |
| WHEAT | 2021-01-27 | [Analysts weigh up wheat price expectations, following Russian export curbs](https://feedsoft.ai/events/49197-analysts-weigh-up-wheat-price-expectations-following-russian-export-curbs.md) | -10.0% | -0.5% |
| WHEAT | 2024-05-07 | [INDIA ELECTIONS: Restrictive steps for wheat, rice exports may persist amid sticky inflation \| S&P Global](https://feedsoft.ai/events/30206-india-elections-restrictive-steps-for-wheat-rice-exports-may-persist-amid.md) | +1.7% | +6.7% |
| WHEAT | 2021-12-30 | [Black Sea wheat prices on uptrend in 2022, mixed outlook for Russian exports 30.12.2021 - UkrAgroConsult](https://feedsoft.ai/events/14525-black-sea-wheat-prices-on-uptrend-in-2022-mixed-outlook-for-russian-exports-30.md) | -0.7% | +9.2% |
| KWHEAT | 2023-04-21 | [Russian wheat trade falls silent as price floor leaves market 'broken'](https://feedsoft.ai/events/36463-russian-wheat-trade-falls-silent-as-price-floor-leaves-market-broken.md) | -7.3% | +2.0% |
| KWHEAT | 2021-01-27 | [Analysts weigh up wheat price expectations, following Russian export curbs](https://feedsoft.ai/events/49197-analysts-weigh-up-wheat-price-expectations-following-russian-export-curbs.md) | -3.4% | +2.3% |
| KWHEAT | 2021-12-30 | [Black Sea wheat prices on uptrend in 2022, mixed outlook for Russian exports 30.12.2021 - UkrAgroConsult](https://feedsoft.ai/events/14525-black-sea-wheat-prices-on-uptrend-in-2022-mixed-outlook-for-russian-exports-30.md) | -4.5% | -3.8% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/russia-sets-price-floor-wheat-international-tenders-sources-say-2024-10-11/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.