Russia's Grain Prices Plunge Amid Halted Black Sea Exports

Russia's domestic grain prices have plummeted by 36% since June, thanks to a halt in exports via the Black Sea and the Sea of Azov, according to consulting firm Sovecon.

This decline has squeezed farmers' margins as they introduce their new crop on the market.

Andrey Siov of Sovecon noted that the current price is the lowest for this time of year since at least five years, with a 20% drop in dollar terms compared to the previous low set in 2023.