Information for fruit and vegetables business in CIS
Russian Gvt to carry out interventions on wheat and rye markets
Russian government has decided to carry out purchase interventions in the markets of bread wheat and rye, reporters have been told in the Department of Government Information of Russia. The decision has been taken with the aim of ensuring forecast grain production profitability levels.
The mechanism of interventions is supposed to be introduced in early October and to take up RUR 6 to 7 billion (US$ 190 to 222 million). Agriculture Minister Aleksey Gordeyev has told that minimum purchasing price for 3rd grade bread-making grain will be RUR 2,300 (US$ 72.85) per tonne.
Final decision concerning purchases of wheat and rye will be taken on September 19 at the government's sitting.