Russia's Baltic Expansion: Boosting Grain Exports Amidst Conflict Challenges

Russia, the world's leading wheat exporter, is expanding its Baltic Sea ports to increase agricultural exports by 50% by 2030 while reducing reliance on Black Sea routes. The country aims to tap new markets in Latin America and Africa, amidst challenges from the conflict with Ukraine.

Russia, the leading global wheat exporter, is ramping up its Baltic Sea ports to enhance agricultural exports by 50% by 2030, aiming to lessen its dependence on Black Sea routes, officials and industry executives revealed.

Historically reliant on Black Sea ports, Russia's agricultural exports have surged despite conflict with Ukraine disrupting the area. Ksenia Bolomatova, deputy head of the state-controlled agricultural conglomerate OZK, reported a lack of capacity to meet the growing export pace after a record harvest.

Over the past 18 months, Russia has opened major ports Vysotsky and Lugaport in the Gulf of Finland, near St. Petersburg. These ports are anticipated to manage up to 15 million tons of agricultural exports annually. President Vladimir Putin aims for a significant increase in agricultural export capacity as Russia cements its position as an agricultural superpower.

(With inputs from agencies.)