FOB Prices and Freight Rates App (Updated 9 May)
Transportation and Freight Market Comments - 9 May 2025 By Matt Herrington Dry-Bulk Ocean Freight Dry bulk markets saw little action this past week with China on a 5-day Labor Day holiday. Between the Chinese holiday, uncertainty on the global economic outlook for the next 6 months, cargo deman...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Iran’s 2025 wheat production is being hurt by very dry weather. Rainfall up to February 2025 was much below average but did improve in March. However, Iran does have reasonable wheat stocks due to the good 2024 crop and whea...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Iraq has confirmed that it will not need to import as much wheat in 2024/25 as it expects to see purchases of local wheat at 4.5 MMT while current stocks of wheat are at 2.8 MMT. Overall wheat production could reach 6.0 MMT. Press...
Section 301 Measures Will Fail to Make America Great Again
The U.S. grain export industry – and the transportation sector broadly – are increasingly concerned about the USTR’s proposed Section 301 measures in connection to the “Investigation of China's Targeting of the Maritime, Logistics, and Shipbuilding Sectors for Dominance&...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region The 2025 dates for Ramadan are estimated to be 28 February until 30 March. The actual dates will depend on the location of each country. Egypt’s government hopes to increase its local wheat purchases in 2025 by 11 percent to...
Middle East, Mediterranean and Africa Regional Analysis
MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s new state grain buyer – Mostakbal Misr – is rumored to have made significant wheat purchases for delivery in the next three months. All the purchases are said to be for Russian wheat. No details of the pu...
The Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN, MIDDLE EAST, NORTH AFRICA, AFRICA – MEA REGIONAfrica spends $75 billion every year importing cereals according to the African Development Bank – 50 MMT being wheat – 27 MMT imported by North Africa, 12 MMT by East Africa and 9 MMT by West Africa. Wheat...
Interactive Ocean Freight Rates (Updated 9 August)
*** Developer Note ***This app is deprecated as of 13 August 2024 and will no longer be updated. Ocean Freight Comments - 9 August 2024By Matt HerringtonDry-bulk markets continue to chop sideways with gains one week yielding losses the next before gains emerge again. This past week was one...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s Ministry of Supply expects to receive 3.5 MMT of local wheat during the 2024 harvest that begins in April. In 2023, about 4 MMT was received by the government. Egypt has increased the purchase price...
Black Sea Regional Analysis
Russian Grain Markets: 26 February–1 March 2024 Russian grain markets remained bearish following the global trend exports are the key driver. For several weeks in a row, Russian pea prices have climbed higher and higher and as long as there is no export duty for peas, this commodity will...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION BRICS membership increased on 1 January 2024 to include Egypt, Iran, Saudi Arabia, UAE, and Ethiopia in addition to existing members: Brazil, Russia, India, China, and South Africa. Further expansion is expected i...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Red Sea and Arabian Sea shipments in transit are being attacked by forces said to be from Yemen or Somalia. Attackers say that they are only attacking vessels with some relationship with Israel. Both Zim lines and...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Algeria’s wheat crop, according to the recent FAO report, will be down by 500,000 MT to 2.5 MMT due to drought which will see wheat imports increase to 9 MMT. Barley production will be the same as 2022 at 1...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Pakistan reports outbreaks of Fall Armyworms on maize crops in some areas of the country. The government says that the crops are now too mature for normal pesticide sprays. Pakistan could face a shortage of up to...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt and India are discussing a possible arrangement for the trade of Egyptian fertilizer for Indian wheat – an arrangement that could benefit both countries. Egypt is the world’s fifth largest export...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Pakistan’s wheat harvest of 27.5 MMT this year is still about 2.6 MMT short of the country’s consumption. Some imports have been made but there is still concern that there will be wheat/wheat flour sho...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Morocco’s National Federation of Millers has advised that current wheat stocks will cover up to five months of cosumption and added that the current duty-free wheat imports through September will increase th...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Turkey reports it will allow the export of both corn and durum wheat this year due to the bumper crop for both grains. Exports licenses have already been issued for durum wheat with corn licenses pending. Accordin...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Morocco’s Forafric Global has bought 90 percent of Societe Industrielle de Minoterie Du Sud which is a Moroccan soft wheat miller. This acquisition will add 300 MT per day of milling capacity to Forafric. Mo...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt is facing continued daily power cuts as the very high temperatures have increased electricity demand. Egypt does have sufficient electricity production but the reduction in fuel to the plants has caused gene...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Afghanistan will receive another 20,000 MT of wheat from India in a new donation to help overcome the humanitarian crisis in Afghanistan. India previously donated 40,000 MT of wheat. Wheat will be delivered throug...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Tunisian President Kais Saied said that efforts must be made to insure the adequate supply of grain and feed to all areas of the country. He added that all imports of grain and fodder must be controlled by the gov...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Afghanistan is facing a severe infestation of Moroccan locusts in the expected biggest outbreak in 20 years. Up to 25 percent of the current wheat crop, as much as 1.2 MMT, is said to be at risk. The locusts are e...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Morocco’s Ministry of Agriculture said that 2023 cereals production should increase by 62 percent compared to the low drought affected crop of 2022. Total production is seen at 5.5 MMT up from 3.4 MMT. Soft...
FOB Prices and Freight Rates App (Updated 9 May)
Transportation and Freight Market Comments - 9 May 2025 By Matt Herrington Dry-Bulk Ocean Freight Dry bulk markets saw little action this past week with China on a 5-day Labor Day holiday. Between the Chinese holiday, uncertainty on the global economic outlook for the next 6 months, cargo deman...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Iran’s 2025 wheat production is being hurt by very dry weather. Rainfall up to February 2025 was much below average but did improve in March. However, Iran does have reasonable wheat stocks due to the good 2024 crop and whea...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region Iraq has confirmed that it will not need to import as much wheat in 2024/25 as it expects to see purchases of local wheat at 4.5 MMT while current stocks of wheat are at 2.8 MMT. Overall wheat production could reach 6.0 MMT. Press...
Section 301 Measures Will Fail to Make America Great Again
The U.S. grain export industry – and the transportation sector broadly – are increasingly concerned about the USTR’s proposed Section 301 measures in connection to the “Investigation of China's Targeting of the Maritime, Logistics, and Shipbuilding Sectors for Dominance&...
Middle East, Mediterranean, and Africa Regional Analysis
Mediterranean/Middle East/North Africa/Africa – MEA Region The 2025 dates for Ramadan are estimated to be 28 February until 30 March. The actual dates will depend on the location of each country. Egypt’s government hopes to increase its local wheat purchases in 2025 by 11 percent to...
Middle East, Mediterranean and Africa Regional Analysis
MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s new state grain buyer – Mostakbal Misr – is rumored to have made significant wheat purchases for delivery in the next three months. All the purchases are said to be for Russian wheat. No details of the pu...
The Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN, MIDDLE EAST, NORTH AFRICA, AFRICA – MEA REGIONAfrica spends $75 billion every year importing cereals according to the African Development Bank – 50 MMT being wheat – 27 MMT imported by North Africa, 12 MMT by East Africa and 9 MMT by West Africa. Wheat...
Interactive Ocean Freight Rates (Updated 9 August)
*** Developer Note ***This app is deprecated as of 13 August 2024 and will no longer be updated. Ocean Freight Comments - 9 August 2024By Matt HerringtonDry-bulk markets continue to chop sideways with gains one week yielding losses the next before gains emerge again. This past week was one...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s Ministry of Supply expects to receive 3.5 MMT of local wheat during the 2024 harvest that begins in April. In 2023, about 4 MMT was received by the government. Egypt has increased the purchase price...
Black Sea Regional Analysis
Russian Grain Markets: 26 February–1 March 2024 Russian grain markets remained bearish following the global trend exports are the key driver. For several weeks in a row, Russian pea prices have climbed higher and higher and as long as there is no export duty for peas, this commodity will...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION BRICS membership increased on 1 January 2024 to include Egypt, Iran, Saudi Arabia, UAE, and Ethiopia in addition to existing members: Brazil, Russia, India, China, and South Africa. Further expansion is expected i...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Red Sea and Arabian Sea shipments in transit are being attacked by forces said to be from Yemen or Somalia. Attackers say that they are only attacking vessels with some relationship with Israel. Both Zim lines and...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Algeria’s wheat crop, according to the recent FAO report, will be down by 500,000 MT to 2.5 MMT due to drought which will see wheat imports increase to 9 MMT. Barley production will be the same as 2022 at 1...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Pakistan reports outbreaks of Fall Armyworms on maize crops in some areas of the country. The government says that the crops are now too mature for normal pesticide sprays. Pakistan could face a shortage of up to...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt and India are discussing a possible arrangement for the trade of Egyptian fertilizer for Indian wheat – an arrangement that could benefit both countries. Egypt is the world’s fifth largest export...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Pakistan’s wheat harvest of 27.5 MMT this year is still about 2.6 MMT short of the country’s consumption. Some imports have been made but there is still concern that there will be wheat/wheat flour sho...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Morocco’s National Federation of Millers has advised that current wheat stocks will cover up to five months of cosumption and added that the current duty-free wheat imports through September will increase th...
Middle East, Mediterranean and Africa Regional
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Turkey reports it will allow the export of both corn and durum wheat this year due to the bumper crop for both grains. Exports licenses have already been issued for durum wheat with corn licenses pending. Accordin...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Morocco’s Forafric Global has bought 90 percent of Societe Industrielle de Minoterie Du Sud which is a Moroccan soft wheat miller. This acquisition will add 300 MT per day of milling capacity to Forafric. Mo...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt is facing continued daily power cuts as the very high temperatures have increased electricity demand. Egypt does have sufficient electricity production but the reduction in fuel to the plants has caused gene...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Afghanistan will receive another 20,000 MT of wheat from India in a new donation to help overcome the humanitarian crisis in Afghanistan. India previously donated 40,000 MT of wheat. Wheat will be delivered throug...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Tunisian President Kais Saied said that efforts must be made to insure the adequate supply of grain and feed to all areas of the country. He added that all imports of grain and fodder must be controlled by the gov...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Afghanistan is facing a severe infestation of Moroccan locusts in the expected biggest outbreak in 20 years. Up to 25 percent of the current wheat crop, as much as 1.2 MMT, is said to be at risk. The locusts are e...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Morocco’s Ministry of Agriculture said that 2023 cereals production should increase by 62 percent compared to the low drought affected crop of 2022. Total production is seen at 5.5 MMT up from 3.4 MMT. Soft...