On the 44th week, freight rates in the Azov-Black Sea region continued to fall, dropping to an average of USD 72 per ton for a shipment of 3,000 tons of wheat from Azov Sea to Marmara Sea ports. At the same time, it is worth noting the strong volatility of the market, contracts are concluded in the range from 66 to 75 dollars per ton due to the instability of the grain market. It is also important to say that this week there has been a trend to reduce the difference between rates to Marmara Sea and to long-distance destinations. Due to the drop in rates on Marmara, shipowners are again showing interest in long-distance voyages.
The export tax on wheat from November 16th will again fall to the level of 2922.1 rubles per ton. In addition, for the second week in a row, the tax on corn is sharply reduced – from 1114.3 to 447.5 rubles. However, despite this, we cannot note an increase in shipments of corn from the Azov ports. Mainly, contracts are concluded for the shipment of wheat and grain subcultures.