Russian government allows sale of 3 mln tons of grain from state fund next year
Business & Economy
December 28, 2024, 12:17
As the Cabinet notes, the decision on commodity interventions is intended to help the government maintain a stable situation on the domestic food market
MOSCOW, December 28. /TASS/. The Russian government has allowed sale of up to 3 million tons of wheat, rye and barley from the federal intervention fund, according to the relevant order signed by Prime Minister Mikhail Mishustin.
Grain purchased during interventions in 2014-2016 and 2022-2024 will be sold at exchange auctions. The price will be set no lower than the purchase price.
As the Cabinet notes, the decision on commodity interventions is intended to help the government maintain a stable situation on the domestic food market.
The government purchases products for the Federal Intervention Fund when prices for them fall in order to remove surpluses from the market and provide support to producers.