Iran resumed purchases of Russian wheat
Iran has resumed grain unloading at its Caspian ports, but shipments from Russia’s Astrakhan are still proceeding under old contracts, market participants say.
According to them, Russian exporters are not prepared to ship products without prepayment and are also counting on Iranian vessels.
At least five grain carriers are currently en route to Amirabad, all of which were loaded in Astrakhan, according to LSEG data.
As Reuters sources among Russian exporters told us on Tuesday, new grain shipments were suspended following the February 28 attacks on Iran, including via the Caspian Sea, which remains a relatively safe logistics route, unlike routes from the Black Sea via the Persian Gulf.
Russia primarily exports barley and corn via the Caspian Sea, while milling wheat is shipped primarily from Black Sea ports. This season, Iran is among the top three largest importers of Russian grain, including wheat.
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