November 28 2002, 15:39 APK-Inform

Russia: grain purchase interventions results as of Nov 27

In the course of exchange tenders, within the framework of ongoing state grain purchase interventions in Russia as of November 26, 2002 the state purchased 59,100 tonnes of milling wheat Class 4 and 42,800 tonnes of milling rye Group A, Federal Agency for Food Market Regulation with Russian Ministry of Agriculture has informed.

Over the ten trading days since November 13 till November 27 the state bought into the intervention fund 474,200 tonnes of milling wheat Class 3, 573,200 tonnes of milling wheat Class 4 and 157,200 tonnes of milling rye Group A. The total amount of the purchased grain was 1,203,700 tonnes. The total sum of 2,105,600,000 roubles had been spent out of the 6-billion-rouble loan, provided by the Savings Bank of Russian Federation.

According to analytical service with group of companies Unidell, despite modifications in the commodity range, the Siberian basis has been day-by-day showing the largest sales volumes. On November 27 all the lots of 4th class wheat and milling rye, sold from Siberian elevators, were sold. The price for the wheat remained at the level of previous trades, that for rye - sharply dropped from the level of November 21 - by 130 to 150 roubles per tonne --, the minimal one - down to 1,244 roubles per tonne, the maximal one - down to 1,250 roubles per tonne. Though, despite the drop, the tender prices for rye remained higher than the regional market by some 500 roubles per tonne.

Summarising the total results of trades for rye as of November 27, one could have observed the following picture: sales came off on all the bases; the prices dropped everywhere but Povolzhye. In Tatarstan and Upper Povolzhye the prices were by 200 to 300 higher than the market. In Central region the prices dropped by 50 to 270 roubles, but remained at 200 to 300 roubles higher than the market. The sharpest drop in tender prices for milling rye occurred on the Ural basis: the price was just 600 roubles, which is the same as current market price in the region.

4th class wheat purchases were quite vivacious, but for Southern region, where there had been no transactions registered the second day on end. As a whole, the the 4th class wheat tender prices remained at the level of previous trade, a little rising in the Central region, a little dropping in Povolzhye and Tatarstan and remaining the same in the Urals. According to Federal Agency, the intervention tenders are being continued.

1 USD = 32 roubles