MOSCOW: Russian wheat export prices declined in line with global trends last week and analysts have again made upward revisions to estimates for shipments from Russia in September, citing increased activity at Baltic ports.
Consultancy IKAR said that export prices for wheat with 12.5percent protein content shipped from Russian ports of Vysotsk and Ust-Luga were at USD267 a metric ton for delivery in November FOB by the end of last week, down USD1 from the previous week.
Most shipments are now being redirected to Baltic terminals because southern Russian ports are largely closed. Shipments via ports in the Azov-Black Sea basin came to a standstill from mid-August owing to attacks on vessels and damage to terminals.
Krasnodar declared a state of emergency last week because of a glut in the agricultural produce market. It is the second region in Russia, after neighbouring Rostov, to have declared a state of emergency while shipments from southern ports have been disrupted.
Russian grain exports are beginning to use Baltic terminals that previously handled coal and fertilisers.
IKAR estimated that Russia had been able to export 2.3 million tons of wheat in September. SovEcon and Rusagrotrans have made similar assessments.
A week earlier, IKAR’s estimate stood at more than 2 million tons, SovEcon’s at 2.1 million tons and Rusagrotrans’ at 2.2 million tons.
Overall, wheat exports from Russia could reach about 6.6 million tons between July and September 2026, Rusagrotrans analysts said.
Following publication of a government decree last week, the zero export duty on wheat — as well as on barley and maize — promised to the Russian market came into effect, implemented retrospectively from September 1 and remaining in place until December 31.
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