Russian Grain Exports Plummet Amid Black Sea Port Disruptions

Russia's grain export slowdown has deepened after drone attacks on its main ports in the Black and Azov seas. The Port of Novorossiysk, Russia's largest sea grain terminal, KSK, announced it had suspended operations due to safety concerns following a massive Ukrainian drone attack.

This move means all three terminals in the Black Sea port of Novorossiysk have now been halted, with two others - NZT and NKHP - put out of action on Wednesday after sustaining severe damage. KSK owner Delo Group stated that 'the decision was made to ensure the safety of staff and infrastructure.'

The disruptions have significantly reduced Russia's seaborne grain exports by 20.3 per cent year on year in July, with analysts predicting a 10-year low in August. Russian Agriculture Ministry has set up a task force to coordinate the rerouting of farm exports.