Russian export prices for wheat fell further last week as the rouble fell further and global benchmarks weakened, analysts said on Monday. The rouble has lost about 6 percent against the dollar since the start of December on sliding oil prices and triggered the rise in Russia's wheat export tax. Black Sea prices for Russian wheat with 12.5 percent protein content were at $189 a tonne on a free-on-board (FOB) basis at the end of last week, down $4 from a week earlier, Russian agricultural consultancy IKAR said.

Prices in the Azov Sea, via which Russia supplies wheat to Turkey, fell $5 to $157 per tonne, it said in a note. SovEcon, another Moscow-based consultancy, said FOB wheat prices in the Black Sea were down $0.5 at $192.5 per tonne, while prices for corn (maize) were $167 per tonne. The wheat export tax is set at 50 percent of the customs price minus 6,500 roubles ($91) per tonne, but not less than 10 roubles per tonne. With the rouble rate against the dollar at 71 and the FOB price of $192.5 per tonne, the tax is 334 roubles ($4.7) per tonne.

Copyright Reuters, 2015