Iran shifts Russian wheat imports to Caspian routes

Alexander Sharov, head of consultancy Ross Iran Expo, said Iranian purchases of Russian wheat from the Caspian ports of Makhachkala and Astrakhan have risen this year. He estimated Iran may buy about 200,000 tons of wheat in the current marketing season, which started in July, with smaller traders on both sides handling cargoes in modest parcels.

Another analyst said Russian wheat exports to Iran through the Caspian were likely to rise further as Black Sea shipping remains disrupted and the Strait of Hormuz stays effectively closed during the Iran war. The Black Sea has seen repeated drone attacks by Russia and Ukraine that have interfered with shipping, reinforcing the region’s role as a geopolitical chokepoint for food and energy flows.

The shift is already showing up in broader Russian grain trade. Consultancy IKAR said Iran has become the fourth-largest buyer of Russian wheat since the start of the season, while ProZerno said Iran had bought about 913,000 tons of Russian grains by Sept. 8, with corn accounting for about half and barley for roughly a third. In the previous month, Iran became the top buyer of Russian grains overall, overtaking Egypt.

For investors, the story keeps attention on wheat prices, grain freight, and any spillover into agribusiness and shipping margins. Wheat futures have been under pressure recently, but the market remains exposed to any escalation in Black Sea disruption, especially as importers re-route cargoes and pay up for alternative logistics.

The immediate focus now is whether Black Sea attacks intensify and whether Caspian-origin flows can scale enough to offset the loss of more efficient shipping lanes. Any further disruption could tighten nearby supply routes, even if global wheat benchmarks remain volatile and broadly soft for now.