Prices of Australian wheat being offered in Asia extended gains this week, with rising freight rates lifting the cost of grain for importers, two traders said on Friday.
Australian Premium White wheat was quoted around $318-$320 a tonne, including cost and freight (C&F), to Southeast Asia, up from $310 a few weeks ago.
“The freight market is rising so rapidly that prices have risen,” said one of the traders.
Australian standard wheat is being offered at $314 a tonne, C&F, while Australian hard wheat is around $325 a tonne.
Black Sea new-crop wheat is being quoted at $280 a tonne for August shipment.
Source: Reuters (Reporting by Naveen Thukral; Editing by Devika Syamnath)
