20/03/2024

On the 12th week in the Azov-Black Sea region there is a change of trend and freight rates, after a long fall, began to rise again. Thus, contracts for a shipment of 3000 tons of wheat from Azov to Marmara Sea ports are concluded at the level of USD 40 pmt. Demand for Russian grain in Turkey continues to recover, although there is still weak interest in coal and fertilizer purchases.
In addition, it is worth noting that navigation on the Russian river officially opens at the beginning of April and many shipowners of the Russian flag fleet are not in a hurry to fix their vessels for April dates, expecting more interesting cargoes from Russian river ports.
The export rate for wheat exports from Russia will drop to 3,143 rubles from March 20th. The tax on barley will fall to 408.1 rubles from 667.6 rubles per ton, but the strongest change is fixed on the corn tax, which will fall more than 7 times, from 571 rubles per ton a week earlier to 71.2 rubles.