Latvia has been recognized as one of the top five countries in the transfer of Russian grains this season. According to reports, approximately 431,700 tons of Russian grains have been sent through this country between July and October. This occurs while Latvia's political relations with Moscow are significantly under pressure.
Changes in Russian Grain Export Routes
Russia is changing its grain export routes, turning to Baltic ports instead of using export corridors from the Sea of Azov and the Black Sea. According to information provided by consultants, the Baltic route accounted for 65 percent of Russian grain exports in September. This change is due to the major halt of exports from traditional corridors and also Western sanctions.
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New Sanctions and the Grain Market
The Latvian Ministry of Foreign Affairs has announced that imports of Russian grains will be banned in this country starting in 2024, and currently, there are no transit sanctions against Russian grains. However, the Latvian government is seeking to establish these sanctions either nationally or through the European Union. Iran remains the largest buyer of Russian grains during this period, having imported 1.716 million tons, significantly impacting the market.
Meanwhile, grain exports through the Caspian Sea have also increased dramatically, with most shipments heading towards Iran. Egypt, which was once the largest importer of Russian wheat, has imported 1.35 million tons of Russian grains during this period. Azerbaijan and Nigeria are also among the largest buyers of Russian grains this season, with imports of 545,000 tons and 420,900 tons, respectively.
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