Middle East tensions keep Asian agricultural markets on edge in Commodity News 03/03/2026 Rising tensions between Iran and Israel are keeping Asian traders alert, as concerns grow over potential increases in freight costs and logistics pressures for key agricultural commodities, including grains, chicken, and beef, market participants said. Asian grains market participants are largely taking a wait-and-see approach. A Singapore-based trader said, “Freight is not helping for any trades,” while a Japan-based trader added, “It is too early to tell, but the only change is the bunker price for now.” A Singapore grains purchaser said “ocean freight was already up $2/mt last Friday even before the US-Iran escalation, likely more this week as war risk surcharges and premiums are added into the equation … we need to closely monitor biofuels (sugar, corn, soyoil and palm) as well as fertilizer prices as US farmers enter a new planting season.” “Everyone wants to wait and see at the moment … I think the attack itself is already reflected in the market, but no one can predict how long it will affect [the market],” said another Singapore-based grains trader. Despite the geopolitical tensions, actual grain shipments to Asia are not yet disrupted. North-East Asian buyers continue sourcing corn from the US Pacific Northwest, while Southeast Asia imports from South America, according to market participants. Traders said while shipments are not blocked, rising bunker costs and potential route disruptions in the Gulf could push freight costs higher, indirectly affecting landed prices. Platts, part of S&P Global Energy, assessed corn CFR Northeast Asia at $252/mt March 2, up $1/mt day over day. Protein traders cautious Market participants in the chicken and beef sectors are reassessing trade plans as uncertainty around key shipping routes raises questions about costs, timing and price transmission to buyers. Singaporean chicken importers described the situation as uncertain, noting that Brazilian exporters are currently adopting a cautious stance. They expect more clarity on shipping conditions by midweek. Indian beef exporters also reported heightened caution. A Mumbai-based exporter said, “Since it’s the first few days, there is still confusion … However, if the conflict persists for some time, freight rates will increase, along with insurance costs.” Another exporter in India’s Uttar Pradesh state said trade routes passing through the Strait of Hormuz remain a major concern for shipment planning. Market participants said the coming days will be key for gauging how higher freight rates and insurance premiums may translate into prices for Asian buyers of grains and animal proteins. Currently, most traders are holding off on major purchases until more clarity emerges. Platts, part of S&P Global Energy, assessed chicken leg CFR North Asia at $3,200/mt March 2, up $75/mt day over day. Source: Platts 2026-03-03 hellenicshippingnews... window.___gcfg = {lang: 'en-US'}; (function(w, d, s) { function go(){ var js, fjs = d.getElementsByTagName(s)[0], load = function(url, id) { if (d.getElementById(id)) {return;} js = d.createElement(s); js.src = url; js.id = id; fjs.parentNode.insertBefore(js, fjs); }; load('//connect.facebook.net/en/all.js#xfbml=1', 'fbjssdk'); load('https://apis.google.com/js/plusone.js', 'gplus1js'); load('//platform.twitter.com/widgets.js', 'tweetjs'); } if (w.addEventListener) { w.addEventListener("load", go, false); } else if (w.attachEvent