On the 44th week the Azov–Black Sea region is seeing a slight decrease in freight rates. Contracts for shipping 3,000 tons of wheat from Azov to Marmara Sea ports are being concluded at $49–50 per ton. At the same time, the gap between shipowners’ offers and the rates at which traders are successfully finalizing forward contracts continues to widen. Many charterers indicate workable level at the low $40s. This week, there has been increased demand for export shipments from river ports ahead of the upcoming closure of the river navigation season.
The export duty rate on Russian wheat will almost double starting October 29, reaching 167.7 rubles per ton. Export duties on barley and corn will remain at zero.