On the 45th week, freight rates in the Azov-Black Sea region have dropped significantly reaching a level of $ 75 per ton for a shipment of 3,000 tons of wheat from Azov to Marmara Sea ports.
The drop in freight for grain shipment is primarily due to the strong pressure of Ukrainian exporters offering much more competitive prices. The difference in offers reached $ 15, which, with freight above
$ 80 per ton, did not allow Russian exporters to conclude deals.
In addition, from this week, the export fee on wheat and barley exports is being raised again. The tax from November 9 will amount to 3012 rubles per ton for the export of wheat, and for the export of
barley — 2495.6 rubles per ton. It is worth noting a sharp reduction in the tax on corn, the export of which was subject to a export fee of 1,637.3 rubles per ton from November 2 to November 8 and this week fell to 1,114.3 rubles/ton.
It should also be noted that the drop in freight rates is still very poorly reflected over long distance shipments. Shipowners still prefer short voyages to the Marmara Sea.