September 10 2003, 12:27

Russia: government will not interfere with price situation in grain market

The prices currently established in Russian grain market are "normal" ones, Russia's Vice Prime Minister, the Minister of Agriculture Aleksey Gordeyev said in an interview. He said the optimal price level for top quality milling wheat was about 4,000 roubles per tonne (31 roubles = $1).

Gordeyev said that the current level of grain prices in the country corresponded to the two-year old one. "Over the last two years we've got used to the idea that prices for farm products must be dumping one, and the grain is sold for a song. Such situation is abnormal", he said.

He added that grain prices in Russia's local market had currently stabilised and ceased their increase. For the time being the state is not going to interfere with price situation in the grains market, the minister said.