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Russian Agriculture Ministry will not buy grain to intervention fund this year

"We have enough grain to support domestic food security and that is why there is no need for procurements," the first deputy minister of agriculture stressed

ST. PETERSBURG, August 14. /TASS/. No grain procurements to the intervention fund are planned this year in Russia, First Deputy Minister of Agriculture Oksana Lut told reporters.

"We do not plan buying grain to the intervention fund this year and in this season. We have enough grain to support domestic food security and that is why there is no need for procurements," the official said.

On May 29, Agriculture Minister Dmitry Patrushev said that there were no plans of increasing the state intervention fund to ten million metric tons of grain in 2023 because three million metric tons procured were enough.

Russia is implementing state interventions of grain buying and selling since 2001 to regulate domestic prices. 3.08 mln metric tons of grain were purchased for the state intervention fund last year.

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