On the 35th week, fright rates in the Azov-Black Sea region show a significant drop. Thus, shipments of 3,000 tons of wheat from Azov to the ports of the Marmara Sea are concluded at the level of $ 45 per ton.
Such a sharp change in the market dynamics is due to the rapid increase of the export fee on wheat exports, which rose from $ 31.7 to $ 39.4 per ton last week. Moreover, most charterers predict a further increase of taxes in the next few weeks, which negatively affects the grain trade.
Under these conditions, shippers begin to calculate shipments of commodities that do not fall under the export fee restrictions, such as millet, peas, chickpeas or wheat pellet brans. The main direction of shipments remains Turkey, although occasionally there are shipments to Greece and Israel.
Shipments from river ports start to be calculated more actively, however, due to the large flow of cargoes from the Caspian region, the rates remain extremely high, which does not allow charterers to finalize their contracts.