Russia's Grain Exports Plummet Amid Export Woes

Russia's grain harvest is facing significant export challenges, leading to a steep decline in profits for major agribusiness. From August 1-20, exports fell by 2.5-fold to 1.4 million tons, while wheat exports declined 2.6-fold.

The crisis has also driven down the domestic market, with prices for wheat, barley, sunflower seeds, and soybeans falling by 3.3-8.5% over a week and more than 40% over the year.

The Rostov region, accounting for almost 10% of Russia's harvest, declared a state of emergency on August 28 due to export difficulties.