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Russian premier endorses plan for buy-up of grain of 2013 harvest

MOSCOW, December 10, 7:28 /ITAR-TASS/. Russian Prime Minister Dmitry Medvedev has signed a resolution “On the sales of Grain of the 2013 Harvest from the Reserves of the Federal Interventions Fund of Agricultural Produce without Exchange Market Trading,” the press service of the cabinet of ministers said.

In line with the document, the grain will be sold in the course of interventions on the market of grain to the agricultural producers whom it was purchased from, in the amounts in which it was purchased and at the initial purchasing prices.

“The resolution will enable the producers to buy out grain in the first half of 2014 if the pricing situation is favorable and to sell it at higher prices, thus getting supplementary working assets,” the press service said.