Export prices for milling wheat from the Russian Federation slightly increased in April 2024 due to declining wheat stocks but were 25 percent lower year-on-year, supported by the ample harvest. In Ukraine, the export prices of milling wheat (offer, f.o.b.) increased moderately in April as exports continued via the Black Sea Corridor and other marketing channels such as ports and land borders. In Kazakhstan, the export price of milling wheat remained stable for the fourth consecutive month in April following the sharp declines from October to December 2023.

In domestic markets of the subregion’s net exporting countries, national average prices of wheat flour were generally stable in March and April 2024. In the Russian Federation, the price was stable month‑on‑month in April at close to year-earlier levels. In Ukraine, the national average wholesale price of wheat flour was similarly stable in April and below April 2023 levels after decreasing steadily in the two preceding months. In Kazakhstan, the national average retail price for wheat flour held steady for a second consecutive month in March and was marginally lower year‑on-year owing to weak demand and strong competition from the Russian Federation.

Domestic wheat flour prices were stable or declined in March and April 2024 across the net-importing countries of the subregion. In Armenia, the national average retail price of wheat flour remained stable in March and 14 percent below year-earlier values as large import volumes in 2023 continue to bolster domestic availabilities. In Belarus, the national average retail price of wheat flour decreased month-on-month in March, following a period of price increases between November 2023 and February 2024. Prices were up by 6 percent year‑on‑year, reflecting an overall increase in transport and production costs. In the Republic of Moldova, the national average retail price of wheat flour declined further in March sustaining the downward trend, which began in August 2023. Wheat flour prices were about 12 percent below the previous year’s level, due to improved supplies from higher domestic wheat production and an increase in wheat flour imports from Ukraine. In Georgia, the national average retail price of wheat flour declined in April and was down by 6 percent year-on-year, supported by higher imports in 2023. In Kyrgyzstan, the national average retail price of wheat flour declined for the second consecutive month in April and remained almost unchanged compared to the previous year’s level. In Uzbekistan, the national average wholesale price of imported wheat flour remained stable between February and March but was 10 percent higher year-on-year.