Black Sea grain flow // week 31

Brief summary:

- Despite a further upturn in exports from Russia, the total volume of grain departed from Azov-Black Sea ports has inched down from 2.56 to 2.18 million t amid a significant decline in shipments from Ukraine (-30% over the week);

- Russia has become the largest exporter in the region, while Romania has almost caught up with Ukraine;

- The volume of grain en route has added another 20% over the week and reached late March levels;

- Egypt, Spain, Bangladesh and China have seen the most noticeable increase in volumes at sea heading towards their ports;

- The volume of discharged grain has dropped by almost 200k tons (or -16% over the week), while the number of discharged vessels has decreased from 74 to 64 (however, the list of Supra/Ultra carriers has inched up from 5 to 9 units);

- Although the total volume of discharged Black Sea grains has declined, Italy, Spain, Turkiye and Algeria have still seen some increase in discharged volumes this week.