NTB introduces wheat price index

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Today, a new stock index is starting to work in Russia. According to the information of the Central Bank of the Russian Federation, the National Commodity Exchange will determine and post on the official website the wheat price indicator every day.

According to the Moscow Exchange, of which NTB is a part, the indicator had to be introduced in response to a market request. Russia, which is one of the largest grain suppliers in the world, has not yet had the required index, and foreign analogues do not fit the specifics of the domestic market or are only partially used.

Last year, commodity auctions began on the stock exchange, where wheat is the subject of purchases. Since then, about four hundred auctions have already taken place, at which more than 800 thousand tons of grain have been sold. Almost two hundred organizations were participants in these auctions.

The index will be set based on the weighted average cost of a ton of grain, excluding VAT, including payment for the supply of wheat to Novorossiysk. Prices are set only in rubles. In the future, the Moscow Exchange plans to introduce a futures based on this indicator. Its launch is scheduled for the end of summer.

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