Russia's Wheat Exports Plummet Amid Ongoing Port Disruptions

Russia's wheat exports in September may fall below 2 million tonnes due to ongoing disruptions at its southern ports. The attack by combat drones on Novorossiysk on September 9 has caused damage to grain infrastructure, although the extent of the damage is unclear.

Alternative routes via the Baltic, Caspian Sea, and overland routes are not yet able to fully compensate for the loss of logistical capacity at the country's southern ports. As a result, significant volumes of the new harvest remain on the domestic market.

The reduction in Russian supplies is supporting global wheat prices. According to Rusagrotrans, the escalation of the situation in the Azov-Black Sea basin and blocked shipments from southern ports are among the factors driving up prices.