Information for fruit and vegetables business in CIS
Russia: intervention price for milling wheat will be not less than $138/t - Ag. Minister
Prices for new crop milling wheat in Russia will be not less than 4,000 roubles per tonne (about $137/t), Russia's Agriculture Minister Aleksey Gordeyev told a news conference in Krasnodar on Saturday, August 14, Delovoy Peterburg news agency informed.
According to Gordeyev, in the current week the government was about to make a resolution about a start of new crop grain purchases.
At the current moment state administration of Krasnodar Krai is buying top quality (3rd class) milling wheat at 3,800 roubles per tonne and feed wheat at 3,000 roubles per tonne (29 roubles = $1).
In 2002 the price for 3rd class milling wheat was not higher than 2,000 roubles per tonne.
According to agriculture ministry's forecast, this year's grain crop in the country will reach 73 to 76 million tonnes against 67.2 million tonnes in 2003.