Insurance companies involved in insuring the export of Russian oil through the Black Sea have increased their premiums by around 1% to 1.2 – 1.25%.
Insurance companies involved in insuring the export of Russian oil through the Black Sea have increased their premiums by around 1% to 1.2 – 1.25%. This means that each cargo (tanker with a tonnage of 120,000 – 200,000 tons) becomes more expensive by around 200,000 USD.
According to EU data as of August 20, 2023, the EU has exported 4 million tons of soft wheat (compared to 5.11 million tons in the previous year). During the period from August 14 to 20, deliveries amounted to 223,700 tons (compared to 342,300 tons). The top clients for the new season are Morocco with 834,100 tons, Algeria with 456,700 tons, South Korea with 359,100 tons, Nigeria with 318,200 tons, and South Africa with 214,900 tons.
According to Agritel’s forecast, the export of soft wheat from France in 2023/24 will reach 17 million tons (compared to 16.4 million tons in 2022/23). Exports outside the EU are projected to be 9.5 million tons (down from 10 million tons). The forecast for the production remains unchanged at 34.8 million tons (+3%).
According to data from the Malaysian Palm Oil Council, the reference price for exported palm oil in September will be 808.08 USD/ton, which is higher than that of August. The export tax remains unchanged at 8%.
Egypt has canceled a tender for the purchase of corn with deliveries scheduled for October 1 – 15 and October 15 – 30 due to high prices. The offers were within the range of 255.00 – 277.98 USD/ton C&F and were for products from Brazil, Romania, Serbia, and Moldova.
