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The complication of shipping routes for an increasing number of vessels due to the situation in the Red Sea has led to a nearly 40% decrease in wheat deliveries through the Suez Canal in the last two weeks compared to the same period a year earlier – down to 0.5 million tons, as reported by Interfax, citing information from the World Trade Organization (WTO).
Data from the Wheat Dashboard shows that in December 2023, around 8% of the total wheat shipments from the European Union, Russia, and Ukraine to countries in Asia and East Africa were delivered via alternative routes other than the Suez Canal. This marks a significant increase compared to the previous period when such shipments accounted for only 3%. In the first half of January, the percentage of shipments via alternative routes reached 42%.
From early December to mid-January, wheat deliveries from the EU that did not pass through the Suez Canal amounted to 330,000 tons compared to 50,000 tons in the same period the previous year. During the same period, about 190,000 tons of wheat from Russia were rerouted through alternative routes, showing a substantial increase from zero volume the previous year. Meanwhile, all shipments from Ukraine continued to pass through the Suez Canal.
According to the World Trade Organization, approximately 76 million tons of grains, vegetable oils, and related products are shipped annually from the EU, Russia, and Ukraine to Asia and East Africa, accounting for 17% of global trade in these goods.
The Wheat Dashboard, an informational tool developed by the WTO and the International Grains Council (IGC), was launched in May 2023 as part of the international response to growing global concerns about food security.
