The Kazakh market remains unchanged: trade is slow and export quotes are stable. If prices for agri products remain low for a long period, it could lead to bankruptcy of some farmers in the country. Production costs have risen by around 20% this season, while wheat prices have fallen by 25%.
Prices for EU grains have been mainly growing this week (except for wheat in Constanta and barley in German ports) despite the sharp decline in shipments.
Grain export quotes have been mainly declining in Russian ports. At the same time, one of the main buyers of Russian wheat, the Turkish TMO, has bought about 535,000 t of wheat (out of the planned 695,000 t) within the international tender.
The US soybean market is supported by the upturn in the soybean oil segment. Players expect a large planting area under soybeans in the US this year and, consequently, a record crop.
Export quotes for Ukrainian grains have been actively decreasing in late March. Prices suffer pressure from large number of domestic offers (amid the start of planting), as well as from moderate importers’ demand.
Fram Shipping is going to start business on the territory of the Reni seaport. The company focuses on handling export dry bulk cargo.
On March 22, Reni Terminal Development LLC (whose ultimate beneficiary is Andriy Verevsky, Chairman of the Board of Directors of Kernel) received a permit to build a multimodal terminal in the city of Reni.
The Freeport of Riga stepped up the total cargo turnover by 27,000 t to 1.8 million t in February 2023 compared with January 2023.