Russia to Start Grain Interventions Due to Export Collapse

Russia plans to launch grain interventions by the end of October, following a significant drop in exports due to attacks on ports. Agriculture Minister Oksana Lut announced that Vladimir Putin has approved the necessary budget for these interventions, which aim to stabilize grain prices.

Lut noted that while the budget has been secured, the government is still in the process of selecting a bank and storage facilities. Currently, only 1.3 million tons of storage capacity have been secured, but 3 million tons are needed for a full-scale intervention. A second tender will be held to secure the remaining storage.

The interventions will affect 14 regions, including Krasnodar and Stavropol Krais, and will span from 2026 to 2027. The mechanism, in place since 2001, involves the state purchasing excess grain to prevent price declines and selling it to curb price increases.

The decline in exports is attributed to logistical issues in the Azov-Black Sea basin, where attacks on ports have reduced wheat exports. In August 2026, Russia exported only 1.3 million tons of wheat, compared to 5 million tons in 2025, leading to surplus grain in southern farms and falling purchase prices.