November 22 2002, 14:28 APK-Inform

Russia: grain purchase interventions results as of Nov 21

In the course of exchange tenders within the framework of ongoing state grain purchasing interventions in Russia, as of November 21, 2002 the state purchased 23,400 tonnes of milling wheat Class 3 out of 38,600 tonnes put up for tender, and 57,200 tonnes of milling rye Group A out of 57,200 tonnes, put up for tender, Agriculture Ministry's Federal Agency for Food Market Regulation has informed.

Over the seven trading days since November 13 till November 21 the state bought into intervention fund 318,500 tonnes of milling wheat Class 3, 325,600 tonnes of wheat Class 4 and 114,400 tonnes of rye. Total amount of the purchased grain was 758,500 tonnes for the total value 1.359 billion roubles out of 6 billion roubles of credit, provided by Savings Bank of Russian Federation.

According to the Federal Agency, grain intervention tenders are continued and starting from November 26 will be held three times a week till December 24,2002.

Newspaper Krestianskiye Vedomosti has reported with a reference to analytical service of Unidell companies group that milling rye was traded quite actively, with prices in Povolzhye and South of Russia being close to those of the previous day, and in Urals having decreased. Very high tender prices for rye were registered in Siberia and the Centre. Prices in Volgo-Vyatsky region slightly grew.

Sales volumes of 3rd class wheat have been traditionally modest. The trades in Siberian and Central regions have resulted in no purchases. In the first case it was due to absence of quality wheat in the region and therefore - high market prices for 3rd class wheat, eliminating the need to put such grain at intervention. In the second case - market prices in the region are close to the limit of exchange trades.

Noteworthy facts were continuing decrease in purchasing prices in Siberia and the Urals, the even price state in Povolzhye (the mid-Volga) and evenly high level in Tatarstan and Volgo-Vyatsky region (the region of Nizhni Novgorod, mid-upper-Volga).

1 USD = 32 roubles