Black Sea Tensions Lead Grain Buyers to Tap Baltic States

By Pyotr Kozlov (Bloomberg) — Baltic grain exporters are seeing a boost in demand as blocked supplies from the Black Sea region are spurring buyers to seek alternative sources.

About 1 million tons of wheat have been booked for loading at ports in Latvia, Lithuania and Estonia so far in August, according to data from market observer CM Navigator. That’s up about 50% from a year earlier and follows a threefold jump in bookings in July.

There’s buying interest from Turkey, the United Arab Emirates and Sudan — all traditional buyers of Russian wheat, according to the data.