MOSCOW, May 29. /TASS/. The Russian authorities do not plan to increase the state intervention fund to 10 million tons of grain in 2023, the purchased 3 million tons is enough for now, Agriculture Minister Dmitry Patrushev told reporters on Monday.
"There will be no increase, 3 (million tons) have been purchased, which is enough. Let's see what will happen. So far, we do not plan it," he said.
Earlier, Deputy Prime Minister Victoria Abramchenko said that the Russian government is considering the possibility of increasing the intervention fund by 7 million tons, up to 10 million tons of grain. In her opinion, this will help the market if the surplus of grain, which is now putting pressure on the market, is not exported.
The Russian authorities have carried out state interventions in the form of purchase and sale of grain since 2001 to regulate domestic prices. As part of purchasing interventions, the state, in order to support producers, purchases grain from farmers for an intervention fund, and as part of sale interventions, it sells it in order to prevent price increases. Last year, the state purchased 3.08 mln metric tons of grain.
In the future, in the event of a sharp rise in prices, grain will be sold to Russian flour milling and baking enterprises.