Any disruption to shipping via the Red Sea would affect the grain trade more than any other dry commodity, analysis shows.

Some 323.7m tonnes of dry cargo — equivalent to almost 6.5% of seaborne dry bulk trade — passed through the Suez Canal in 2022, according to analysis by commodities data platform Kpler.

Dry bulk trade flowing through the canal will this year exceed this level and totalled close to 318m tonnes at the end of November, according to data compiled by Alexis Ellender, Kpler­’s lead dry freight analyst.