In the Russian Federation, wheat export prices declined by 3 percent month-on-month in November 2024, amid subdued international demand and improved crop conditions in some Northern Hemisphere exporters. In Ukraine,¹ wheat export prices were stable month-on-month in November as low demand was met with slow farmer selling and competitive prices from the Russian Federation. Prices remained around 23 percent higher compared to the same period last year, following periods of sustained increases throughout 2024. In Kazakhstan, wheat export prices were stable month-on-month in November following steady declines for most of 2024 as demand remained sluggish from key importing countries in Central Asia. Prices, in November, were at a five-year low and down by 33 percent year-on-year.

At the domestic level, the national average price of wheat flour was stable month-on-month in November 2024 in the Russian Federation and increased in Ukraine, while they were mostly steady in Kazakhstan in October. In the Russian Federation, the national average retail price of wheat flour was generally stable month-on-month and was 6 percent higher year-on-year, reflecting expectations for a reduced 2024 wheat harvest. In Ukraine, the national average wholesale price of wheat flour increased month-on-month in November, reflecting tight domestic supply, increasing domestic wheat grain prices, as well as high input and transport costs. Prices were 38 percent higher year-on-year. In Kazakhstan, the national average price of wheat flour was stable month-on-month and down by 4 percent year-on-year. On 19 August 2024, Kazakhstan introduced restrictions on wheat imports from all countries with effect from 21 August through 31 December 2024.

Across the subregion’s net wheat importing countries, domestic wheat flour prices remained relatively stable month-on-month in October 2024. Prices were higher compared to the previous year’s levels in most countries. In Armenia, the national average retail price of first grade wheat flour remained stable month-on-month in October and below year‑earlier levels, reflecting an adequate domestic supply. In Azerbaijan, where the 2024 cereal output was at near-average levels, wheat flour prices were steady month-on-month in October at close to their year‑earlier levels. In Georgia, the national average retail price of wheat flour increased for the third consecutive month and by 3 percent month-on-month in November when prices were 8 percent higher year‑on-year. In Belarus, the national average retail price of wheat flour remained stable month-on-month in October and was about 7 percent above last year’s level following a below-average cereal production in 2023. In the Republic of Moldova, the national average retail wheat flour price was generally stable for the second consecutive month in October, after decreasing steadily between June and August 2024, and was 10 percent below last year’s level, supported by the above-average 2024 winter wheat harvest as well as adequate wheat flour imports from Ukraine. In Kyrgyzstan, the national average retail price of wheat flour remained stable in October and was almost 4 percent below last year’s level, due to the adequate 2024 winter wheat harvest.