In Black Sea ports since the start of the war in the Middle East, prices for milling wheat have risen by $6/t and reached $237/t (protein 11.5%), which is the highest level since August.
This market trend is reported by the Electronic Grain Exchange, which tracks global and Ukrainian grain quotations.
Logistics are getting more expensive too: freight for handysize-class vessels to the Eastern Mediterranean rose to $28/t, which is $5–6/t more compared to previous levels.
Ukrainian wheat quotes for delivery to Egypt increased to $264/t, which is $11/t higher than February levels.
Export purchase prices rose on the domestic market as well: for milling wheat — to 10.8–11 thousand UAH/t, for feed wheat — to 10.55–10.7 thousand UAH/t.
Analysts link the price increases to the postponement of shipments to the Middle East, as well as to higher sea freight and vessel insurance costs.
Earlier we wrote:
- The Middle East on the brink of a major war: after mutual strikes by Israel and Iran a state of emergency was declared and the skies were closed
- Odesa and Mykolaiv in Russia’s strategic crosshairs: the Ukrainian Armed Forces named key risks for the south
- A vessel from Russia’s “shadow fleet” detained: it was exporting grain from occupied Crimea via the Black Sea
- Nibulon demands: unblocking the ports of Mykolaiv and Kherson is a key condition of the future agreement
- Including Mykolaiv’s ports: Ukraine urges the UN and Turkey to extend the grain deal
