Iran is gradually re-routing its imports of Russian wheat to the Caspian Sea as shipments via the Black Sea stall due to Ukrainian drone attacks and because the Strait of Hormuz is closed, analysts said on Thursday.
Iran is one of the biggest buyers of Russian wheat.
Alexander Sharov, head of RusIranExpo consultancy, said that Iran's purchases of wheat from Russia, the world's largest wheat exporter, from the ports of Makhachkala and Astrakhan on the Caspian Sea, have been on the rise this year.
"Smaller traders from both Iran and Russia are doing the purchases in small cargoes," Sherov told Reuters, estimating Iran's wheat purchases at 200,000 metric tons in this marketing season, which kicked off in July.
Another analyst, who declined to be identified due to the sensitivity of the issue, predicted that Russia's exports of wheat to Iran through the Caspian Sea are set to rise further as Black Sea trade is disrupted and the Strait of Hormuz remains virtually closed during the Iran war.
Russia and Ukraine have been launching drone attacks on each other in the Black Sea, disrupting shipping.
Consultancy Ikar says Iran is the fourth biggest buyer of Russian wheat so far this season, after Egypt, Azerbaijan and Kenya.
Iran last month became the top buyer of Russian grain overall, mainly barley and corn, which it traditionally imports from Caspian Sea terminals.
According to ProZerno consultancy, as of September 8, Iran bought 913,000 metric tons of grain with corn making up about half and barley about a third, overtaking Egypt as Russia's top customer.
(Reuters)