On the 5th week, the trend of the last weeks on decrease of freight rates is kept in the Azov-Black Sea region. Thus, the cost of a shipment of 3000 tons of wheat from Azov to Marmara Sea ports is USD 54 per ton. Demand for grain, especially from the Turkish side, remains weak; besides, demand for other cargoes, such as coal or fertilizers, is also very low. It is worth noting that quantity of spot tonnage on the market is quite low, which is also due to bad weather conditions in the Bosporus Strait, most of the fleet will open closer to mid-February.
The export rate on wheat exports from Russia from January 31st rose to 3,630.2 rubles pmt, while the tax on barley and corn rose much higher since last week, to 512 and 926 rubles per ton respectively. In addition, it is worth recalling that from February 15th, a quota on exports of wheat, corn, barley and rye will be introduced, which will also affect the grain market in the coming weeks.