September 19, 2008


Grain prices seen rising in Poland


According to analysts, Polish grain prices, which have fallen steadily in recent months, will rebound slightly in the fourth quarter mainly due to seasonal fluctuations.


Poland's statistics office showed wheat traded at PLN574 (US$249)/tonne on average in August, almost 17 percent less than in July, and 15.5 percent lower than a year ago.


Data from the Ministry of Agriculture showed wheat traded at PLN475 (US$202.9)/tonne in the week of September 8-14.


Wieslaw Lopaciuk, a grain market analyst at the Institute of Agricultural and Food Economics, expects grain prices to keep falling until October when they should have a slight seasonal rise which compensates the costs of grain storage.


BGZ Bank, which focuses on the agricultural sector, also expects grain prices to rise in the last three months of 2008 to as much as PLN700 (US$298.9)/tonne.

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