On the 14th week, freight rates in the Azov-Black Sea region continued to decline sharply. Thus, the rate for a shipment of 3,000 tons of wheat from Azov to Marmara Sea ports this week is already at the level of $50 per ton. The demand for Russian grain from Turkish buyers is still very low. Most charterers expect a further drop in freight, so for the end of April and May they offer cargo at even lower rates. It should be mentioned that a significant reduction of the tax on barley may have a positive impact on the situation.
From April 5th to April 11th, the export fee on barley will decrease to 799.4 rubles from 3,245.3 rubles per ton, wheat will decrease to 5,179.4 rubles per ton from 5,409.6 rubles. At the same time, the tax on corn export will increase to 2,943.6 rubles from 2,885 rubles per ton. In addition, it is worth noting that the sharp drop this week was felt also for long-distance destinations, such as Mersin or Italy. Shipments from river ports still have not started, moreover, the number of requests for indications from these ports has decreased.