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St. Petersburg International Economic Forum 2016

Russia to launch grain interventions in August-September — minister

Purchases will be selective

ST. PETERSBURG, June 17. /TASS/. Russia will launch grain interventions in August-September, which will be selective, Agriculture Minister Alexander Tkachev said at the St. Petersburg International Economic Forum (SPIEF-2016) on Friday.

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"Grain interventions in Russia will be launched in August-September," he said, adding that "purchases will be selective."

The minister said Russia is going to export 34-35 mln tonnes of grain this agricultural year.

"Grain exports have been actively developing in recent years. The figure has already reached more than 34-54 mln tonnes. Wheat accounts for more than 20 mln tonnes - we are the leaders in the global wheat market. This figure will grow," he said.

Private investments

Tkachev went on to say that the volume of private investment in the Russian agriculture business will amount to 1 trillion rubles ($15.28 bln) until 2020.

"Until 2020, the planned volume of investments in the agribusiness sector will be about 1 trillion rubles ($15.28 bln)," Tkachev said.

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