On the 18th week, freight rates continue to fall in Azov-Black Sea region. Thus, contracts for a shipment of 3000 tons of wheat from Azov to Marmara Sea ports are concluded on average at the level of USD 35 per ton. Demand for Russian grain is still low both in Turkey and Mediterranean countries. In addition, the long May holidays also had an impact on the decline in trading activity. At the same time, it should be noted that the Russian government canceled export fees on coal from May 1st till August 31st, but so far it has not affected the freight market.
The duty rate for wheat exports from Russia from May 6 will amount to 3,386 rubles, the export fee on barley will drop significantly to 153.6 rubles per ton, and the export tax on corn will remain zero. These taxes will be in effect from May 6 to May 7. The rates, announced on May 3 – from May 8 to 14, and on May 8 – from May 15 to 21.