News

Wheat shipments through the Suez Canal in Egypt fell by almost 40%

Wheat
Egypt
Supply Chain Management
Market & Price Trends
Published Jan 24, 2024

Tridge summary

The World Trade Organization reports that wheat exporters using the Suez Canal have reduced their shipments by nearly 40% over the past two weeks compared to the same period last year. This decrease, equivalent to half a million tons, is attributed to the challenging military situation in the Gaza Strip and the Yemeni rebel Houthi movement Ansar Allah's attacks on ships in the Red Sea and the Bab el-Mandeb Strait. As a result, there has been a significant increase in the use of alternative routes, particularly for grain supplies from European Union countries.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Wheat exporters through the Suez Canal have reduced their shipment levels by nearly 40 percent over the past two weeks from the same period last year. This was reported by the World Trade Organization (WTO) with reference to data from the Dashboard platform. In exact figures, this amounted to half a million tons. About eight percent of exports through routes other than this were to the European Union, as well as Russia and Ukraine, which previously exported products through Asia and East Africa. This is five percent more than was observed before serious problems with transportation in this direction. Overall, the share of traffic in other directions increased to 42 percent. The most significant increase in the volume of supplies in another direction was grain from the European Union countries - 330 thousand tons against the previous 50 thousand. At the same time, Russia did not supply it via these routes last year, but now the volumes have increased to 190,000. For Ukraine, the ...
Source: Rosng
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