On the 40th week, there is a tendency to decreasing freight rates in Azov-Black Sea region. Thus, the cost of a shipment of 3000 tons of wheat from Azov to Marmara Sea ports averages USD 53 per ton. This week demand from Turkish buyers has become even lower compared to last week, as warehouses in Turkey remain overcrowded.
In addition, it should be noted that the Russian government introduced new export flexible fees with a link to the dollar exchange rate from October 1st. If the exchange rate exceeds 80 rubles per dollar, exporters will have to pay part of their proceeds to the budget, which also negatively affects the trade of grain, coal and fertilizers.
As for the rate of tax on wheat exports, it will be 4.564.6 rubles per ton from October 4th against 4.527.5 rubles a week earlier. The export fee on barley will increase 1.6 times to 1.251.1 rubles per ton, while the export tax on corn will be reduced to 2.853.8 rubles.