Russia cuts grain exports by nearly 18% in first half of MY 2025/26

In the first half of the current MY 2025/26 (July–December 2025), Russia shipped 33.9 million tonnes of major grains for export, down 17.6% compared to the same period last year (41.2 million tonnes), according to the Russian Grain Union. Wheat accounted for the largest share — 27.9 million tonnes, 14% lower than in the previous season. Barley shipments fell by 27.9% to 3.2 million tonnes, and corn exports declined by 11.7% to 1.8 million tonnes.

The main reason for the drop in exports, especially wheat, is strong competition in the global market, said Elena Tyurina, Director of the Grain Union’s Analytical Department. Significant increases in shipments are expected from the EU, Australia, and Argentina, creating added pressure on Russian wheat prices and volumes. In the first half of the season, Russian wheat was sold either with minimal or no discount, making it difficult to fully realize its export potential.

Tyurina estimated Russia’s wheat export potential for the season at 46–47 million tonnes, but due to high competition, actual exports are expected to reach 44–45 million tonnes. Russian wheat was shipped to only 49 countries, compared to 69 in the same period last year. Some buyers have switched to sourcing from other countries due to the lack of discounts on Russian grain.

Egypt remained Russia’s largest wheat importer, receiving 5.35 million tonnes, down 21% from 6.76 million tonnes a year earlier. Shipments to Turkey nearly doubled to 4.23 million tonnes, while exports to Bangladesh fell by a third to 1.83 million tonnes. Other major buyers included Israel (+10.8%) and Iran (2.7 times more). Libya, Sudan, and Iraq also increased imports, while shipments to Saudi Arabia remained stable.

Barley was exported to 18 countries compared to 24 a year ago. Iran was the largest buyer, increasing imports 2.5 times to 1.53 million tonnes. Exports to Turkey rose 7.8 times to 503,000 tonnes due to increased quotas for corn and barley. Saudi Arabia and several other countries remained among the top importers of barley.

Corn was exported to only five countries, down from 18 in the previous season. Iran remained the leading buyer, though shipments there fell by 8% to 1.218 million tonnes. Exports to Turkey rose 9% to 401,000 tonnes, and to China by 28% to 112,000 tonnes. The number of exporting companies in the first half of the season fell to 97 from 235 a year earlier.

Grains and pulses were shipped through 61 ports, down from 69 in the previous season. The largest decreases were recorded in Novorossiysk (-5.7%), Rostov-on-Don (-22.4%), and Astrakhan (-14%). Meanwhile, shipments increased through the port of Azov (+5.6%) and Vysotsk, which exported grain to Angola, Bangladesh, Israel, Kenya, and Libya.

Russian wheat prices (FOB Novorossiysk) fell 4.2% over the half-year to $226 per tonne, while European wheat dropped only 1% to $228 per tonne. Producer prices in dollar terms decreased 13% to $171 per tonne from $196 at the start of the season. Over the year, European wheat prices fell by $20 and Russian wheat by $18, while producer prices in dollar terms rose 11.9% compared to $152.6 per tonne at the end of 2024.

Tags: grain, barley, wheat, Russia, corn, export