Iran imported the bulk of Russian grain in the current season

Source:  Finmarket
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In the MY 2025/26 (July–June), Iran has already imported the bulk of its planned grain volumes from Russia. According to analysts at Rusagrotrans, more than 90% of the expected grain shipments to Iran have already been completed.

Wheat supplies have primarily moved through Black Sea ports, barley through the Caspian, Black Sea, and Baltic ports, and corn mainly via the Caspian route. From July 2025 to February 2026, Iran imported about 1.9 million tonnes of wheat out of a projected 2–2.2 million tonnes, with Russia accounting for nearly 100% of these deliveries.

Total barley imports by Iran this season are expected to reach 2.9 million tonnes. Russia has already shipped 2 million tonnes out of its 2.2 million tonne export potential. In addition, Kazakhstan has supplied around 0.6 million tonnes out of a possible 0.7 million tonnes.

Active Russian corn exports to Iran began in November last year and have so far reached 1.95 million tonnes out of a projected 2.2–2.3 million tonnes. However, Brazil remains the largest corn supplier to the Iranian market, having already exported a record 8.3 million tonnes compared to 5.3 million tonnes for the entire previous season.

Market analysts remain cautious about forecasting further developments in Russian grain exports to the Middle East. Dmitry Rylko, head of Institute for Agricultural Market Studies (IKAR), noted that the recent rise in exchange prices will not automatically translate into higher FOB wheat export prices, as increased freight, insurance, and war-related risks are likely to be borne mainly by buyers.

According to ProZerno, a prolonged military conflict could significantly affect Russian export volumes, as redirecting supplies to alternative destinations would be challenging amid large stocks and high production. Between July 2025 and February 2026, Iran imported 5.1 million tonnes of grain from Russia, up from 3 million tonnes a year earlier, making it the third-largest importer after Egypt and Turkey. During the same period, shipments also reached Israel, Saudi Arabia, and the United Arab Emirates.

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