Russia's Grain Exports Hit New Low as Black Sea Ports Halt Operations

Russia's grain exports are facing further cuts due to disruptions at its main ports on the Black and Azov seas. The suspension of operations at KSK, Russia's largest sea grain terminal, means all three terminals in the Black Sea port of Novorossiysk have been halted.

This follows a massive Ukrainian drone attack on the port that damaged two other terminals - NZT and NKHP. Sources said NKHP's loading gallery sustained severe damage, likely keeping it offline for months, while NZT suffered less damage and could resume operations sooner.

The suspension of operations at KSK has not been damaged but was halted to ensure staff and infrastructure safety.

Analysts predict that Russian grain exports will hit a 10-year low in August. They estimate around 1m tonnes of grain have been exported so far this month, but the terminal suspensions could reduce Russian exports by 0.7 to 1.2 million tonnes in August alone.