INCREASES IN GRAIN, POTASH SHIPMENTS AT THE PORT OF THUNDER BAY
Shipments of Western Canadian grain are on the rise at the Port of Thunder Bay. Grain elevators handled 840,000 tonnes of wheat, canola, and other grains during the month of October. Monthly grain shipments increased by 33% from September, and 8% over last October.
The increase was expected as the fall grain harvest moves its way through the supply chain. This marks a return to a more typical volume of grain transiting the port, following a year of decreased shipments. Last year’s grain harvest was negatively impacted by drought and heat on the Prairies. At an estimated 93.5 million tonnes, this year’s Prairie grain harvest is the third largest on record.
In contrast to grain cargoes, shipments of potash cargoes have been strong throughout the 2022 shipping season. As of October 31, more than 1 million tonnes of the product have been transshipped at the Port of Thunder Bay, the most in over 30 years. Global supplies of potash, an important fertilizer input, have been strained by sanctions on product from Russia and Belarus, which comprise 32% of global production capacity.