MORROWFLY

Chokepoint

Suez Canal

2024 vintage · annual data, 1–2y lag5 commodities tracked through these waters · 6 scenarios shock this lane

Every commodity below names Suez Canal in its sourced corridor data. Shares are 2024 trade structure — exposure, not a forecast. Where a route share is unknown, no sourced figure was found; unknown is not zero.

Palm oil

1 lane through these waters

Suez Canal

Serves Indonesia, Malaysia

Route share unknown — No sourced figure for palm oil via Suez. Corridor-share research (Sep 2026): no commodity-specific corridor figure found in public sources -- not zero, just unsourced.

Top exporters worldwide

  • Indonesia

    48.6% of world exports

  • Malaysia

    34.1% of world exports

  • Netherlands

    2% of world exports

  • Thailand

    1.9% of world exports

  • Papua New Guinea

    1.6% of world exports

Scenarios that shock this lane

What if this El Niño is the strongest since 1950? · Indonesia + Malaysia

  • 87.4% of Pakistan’s palm oil imports come from Indonesia

  • 84.8% of United States’s palm oil imports come from Indonesia

  • 65.4% of China’s palm oil imports come from Indonesia

  • 53.1% of India’s palm oil imports come from Indonesia

  • 29.4% of Netherlands’s palm oil imports come from Malaysia

Rice

1 lane through these waters

India to Mediterranean/Europe rice lane

Serves India · 15% of rice and wheat exports combined (not rice-only)

Partial figure — adjacent basis, not lane-only — Partial/adjacent figure: the Suez Canal handles at least 15% of global rice AND wheat exports combined (Chatham House research via gCaptain, Mar 2021 Ever Given coverage). No rice-only Suez share found -- do not read as a rice-only figure.

Source: Chatham House via gCaptain, 2021

Top exporters worldwide

  • India

    30% of world exports

  • Thailand

    17% of world exports

  • Pakistan

    10.3% of world exports

  • Vietnam

    10.3% of world exports

  • United States

    6.4% of world exports

Scenarios that shock this lane

What if India shuts rice exports again? · India

  • 74.9% of Saudi Arabia’s rice imports come from India

  • 56.5% of Iraq’s rice imports come from India

Soybeans

1 lane through these waters

Suez Canal

Serves Brazil

Route share unknown — No sourced figure; Brazilian soy to EU/Asia routing is split with no single published corridor share. Corridor-share research (Sep 2026): no commodity-specific corridor figure found in public sources -- not zero, just unsourced.

Top exporters worldwide

  • Brazil

    53.6% of world exports

  • United States

    30.7% of world exports

  • Paraguay

    4% of world exports

  • Canada

    3.1% of world exports

  • Argentina

    2.3% of world exports

Scenarios that shock this lane

What if Brazil's harvests falter? · Brazil

  • 85.3% of Thailand’s soybeans imports come from Brazil

  • 71.8% of Spain’s soybeans imports come from Brazil

  • 67.7% of China’s soybeans imports come from Brazil

  • 36.1% of Mexico’s soybeans imports come from Brazil

What if a severe La Niña hits South American crops? · Argentina + Brazil

  • 85.3% of Thailand’s soybeans imports come from Brazil

  • 71.8% of Spain’s soybeans imports come from Brazil

  • 67.7% of China’s soybeans imports come from Brazil

  • 36.1% of Mexico’s soybeans imports come from Brazil

What if a severe La Niña hits South American crops? · Brazil

  • 85.3% of Thailand’s soybeans imports come from Brazil

  • 71.8% of Spain’s soybeans imports come from Brazil

  • 67.7% of China’s soybeans imports come from Brazil

  • 36.1% of Mexico’s soybeans imports come from Brazil

Sugar

1 lane through these waters

Suez Canal

Serves Brazil

Route share unknown — No sourced figure for Brazilian sugar via Suez. Corridor-share research (Sep 2026): no commodity-specific corridor figure found in public sources -- not zero, just unsourced.

Top exporters worldwide

  • Brazil

    47.4% of world exports

  • Thailand

    6.3% of world exports

  • India

    5% of world exports

  • France

    4% of world exports

  • Australia

    4% of world exports

Scenarios that shock this lane

What if Brazil's harvests falter? · Brazil

  • 98.9% of India’s sugar imports come from Brazil

  • 89.9% of United Arab Emirates’s sugar imports come from Brazil

  • 81.9% of China’s sugar imports come from Brazil

  • 61.1% of Indonesia’s sugar imports come from Brazil

  • 28.4% of United States’s sugar imports come from Brazil

Wheat

1 lane through these waters

Suez Canal (Black Sea/EU wheat to Asia lane)

Serves Russia, Ukraine · 97% of EU/Russia/Ukraine wheat shipments to selected Asian countries and Eastern Africa transiting the Suez Canal, pre-crisis baseline

Source: WTO Wheat Dashboard (via agbi.com / freightnews.co.za, 2024-01), 2023 (pre-Red Sea crisis baseline)

Top exporters worldwide

  • Russia

    15.8% of world exports

  • Canada

    13.6% of world exports

  • United States

    11.7% of world exports

  • Australia

    9.9% of world exports

  • Ukraine

    8.3% of world exports

Scenarios that shock this lane

What if Black Sea grain stops? · Russia

  • 58.8% of Egypt’s wheat imports come from Russia

What if Black Sea grain stops? · Russia + Ukraine

  • 58.8% of Egypt’s wheat imports come from Russia

What if Black Sea grain stops? · Ukraine

No importer sources ≥20% of its wheat imports from the shocked exporters in the 2024 trade structure.

What if Suez closes to wheat? · Russia + Ukraine

  • 58.8% of Egypt’s wheat imports come from Russia

Illustrative scenario lens — not a prediction, not financial advice.