Information for fruit and vegetables business in CIS
Russia: grain purchase interventions results as of Nov 26
In the course of exchange tenders, within the framework of ongoing state grain purchasing interventions in Russia, as of November 26, 2002 the state purchased 73,100 tonnes of milling wheat Class 3 and 92,000 tonnes of milling wheat Class 4, Federal Agency for Food Market Regulation of Russian Agriculture Ministry has informed. 122,000 tonnes of milling wheat Class 3 and the same amount of wheat Class 4 had been put up for tender.
Over the nine trading days since November 13 till November 26 the state bought into the intervention fund 474,200 tonnes of milling wheat Class 3, 513,200 tonnes of milling wheat Class 4 and 114,400 tonnes of milling rye Group A. The total amount of the purchased food grain has been 1,101,800 tonnes, for the total sum of 1,974,600,000 roubles out of the 6 billion rouble loan, provided by the Savings Bank of Russian Federation.
According to the Federal Agency, grain intervention tenders are being continued and since November 26 the trades will be held three times a week, till December 24, 2002.
Analytical service with Unidell companies group has informed that, as it had been the case in the previous trading session, the main volume of milling wheat - 110,000 tonnes - was bought in the Siberia. Minimal prices for 3rd class milling wheat have increased from 1,999 to 2,030 roubles per tonne, maximal ones - decreased from 2,077 to 2,150 roubles per tonne. Tender prices for 4th class milling wheat in Siberia have grown up by 50 roubles per tonne. The maximal amount of finalised transactions has been registered in this region.
The tenders stayed least promising in the South of Russia. While 60,000 tonnes had been declared for purchase, the trade on this basis proved zero. In the future one should not also expect high trading activity in these regions, as wheat market prices here are equal to or higher than 2,300 roubles and 1,800 roubles per tonne of 3rd class and 4th class milling wheat correspondingly.
1 USD = 32 roubles