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83,300 tonnes of grain bought in first day of trades in format of grain purchasing interventions

November 29, 2011, 19:47 UTC+3

About 83,300 tonnes of grain were bought in the first day of the trading session in the format of the government’s purchasing interventions

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MOSCOW, November 29 (Itar-Tass) —— About 83,300 tonnes of grain were bought in the first day of the trading session in the format of the government’s purchasing interventions, Agriculture Minister Yelena Skrynnik told a meeting of the government’s presidium on Tuesday.

“The Ministry and the Unified Grain Company held the first day of the grain trading,” the minister said. “In all, 84 agricultural producers were accredited for the participation in the trading session. The sessions were organised at five floors [of the National Mercantile Exchange] and twelve remote-access centres,” she said.

“The total purchases in the first day made up 83,300 tonnes of grain worth 379 million roubles [USD 1= RUB 31.32],” Skrynnik said, stressing that individual farmers have privileges at the trading sessions.

The agriculture minister pointed to several features of this year’s grain purchasing interventions. Firstly, the purchases have a selective character. Secondly, agricultural producers have received a chance to buy-back their grain, which was previously sold to the Intervention Fund.

In the latter case, farmers should only pay for the storage of their grain and insurance spending, the minister said. “An average hike of the grain will make up ten to 15 percent after grain storage,” Skrynnik said, expressing confidence that this operation would be profitable for farmers.

The minimum prices for the trading session were established by the Russian Agriculture Ministry’s decree of March 31, 2011.

For instance, the cost of soft food wheat of the 3rd class was established at 5,000 roubles (per tonne for the regions of the Central, Northwest, Volga, North Caucasus, and Southern federal districts. Besides, the cost amounts to 4,700 roubles per tonne for the regions of the Urals, Siberian and Far Eastern federal districts.

In addition, the prices for the 4th class food wheat were established at 4,650 roubles per tonne and 4,450 roubles per tonnes correspondingly. And the cost of the 5th class amounts to 4,300 roubles per tonne and 4,100 roubles per tonne accordingly, the press service reaffirmed.

Besides, the price for the A-group food rye was established at 3,900 roubles per tonne for all Russian regions, the cost of feed barley – at 4,000 roubles per tonne, and of grain maize at 4,400 roubles per tonne.




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