Grain export decreased by 30% despite regular movement of ships to and from ports, 25% lower freight rates, and cheaper insurance.

Friday, October 20, 2023
Grain export decreased by 30% despite regular movement of ships to and from ports, 25% lower freight rates, and cheaper insurance.

Since the beginning of the new marketing season, Ukraine has exported 7.8 million tons of grain and leguminous crops, which is 3.73 million tons, or 32.3%, less than in the same period last year. During the 18 days of October, grain exports amounted to 1.05 million tons, which is approximately one-third of the amount in the same period last year, even though Odesa seaports have continued to accept and load ships.

On October 19, two more ships, the Xin Shun and Peter S., left the ports of Odesa through the temporary Black Sea corridor. At the same time, two new ships arrived at the ports: the Akson Sara and Lolo Gate.

In October, the freight rates for ships traveling through the temporary sea route decreased by 25% – to $45-50 per ton. Rates for ship insurance also reduced from 3-4% to 2%.

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