Russian wheat and barley prices have fallen by 8% to 14.5% since mid-July, driven by port attacks that have hindered exports and disrupted sales, according to data from the ProZerno agency. Compared to the same period last year, prices have dropped by 17.8% to 20.1%.

As of July 31, third-grade wheat was priced at 13,500 rubles per tonne, down 11.3% since Azov Sea shipping restrictions began on July 10. Meanwhile, fourth-grade wheat fell 14.5% to 12,200 rubles per tonne.

SovEcon reports that some producers are now forced to sell at 8,000 to 9,000 rubles per tonne, a sharp decline from the 14,000 to 15,000 rubles per tonne seen just weeks ago. The breakeven point for production is approximately 10,000 rubles per tonne.

Wheat exports in July dropped 17% to 24% year-on-year, totaling between 1.6 million and 1.8 million tonnes. Barley exports plummeted 82% to just 101,000 tonnes over the same period.