Baku, Azerbaijan, Sept. 28
By Fakhri Vakilov-Trend:
According to the results of exchange trading since the end of August 2019, 105 thousand tons of 3-class wheat worth over 202 billion soums sold at Uzbek Commodity Exchange (UZEX), Trend reports citing UZEX.
The weighted average price of wheat practically did not exceed the starting cost and amounted to 1,935 million soums per ton.
Currently, the stock exchange's quotation list includes over 20 standard contracts for a 3-class wheat with lots of one ton each.
Starting price of wheat is 1.932 million soums per ton. Terms of delivery are EXW (pickup from the seller’s warehouse).
It is worth noting that domestic entrepreneurs purchasing food wheat through exchange trading and selling them for export in the form of wheat or flour can receive a VAT refund, which positively affects the cost of production.
($1 = 9422.50 soums on Sept. 28)
---
Follow author on Twitter:@vakilovfaxri