Outside markets
Ocean freight rates
International trade of food commodities has increased fivefold over the past 50 years. In 2020, the share of global production going to exports amounted to around 45% for soybeans, 25% for wheat, 15% for maize and 10% for rice. The cost of shipping bulk commodities has thus an important impact on the final price paid by consumers.
Chart description
Chart description
The Baltic Dry Index provides an assessment of the freight rates for shipping bulk commodities by sea. It includes Supramax, Panamax, and Capesize vessels, of which Panamax vessels are the most relevant for grains transportation. With a carrying capacity of 60,000-80,000 tonnes, they are able to pass through the Panama Canal, which provides transit for about half of the United States grains exports. For more information, click here.