Ministry for agriculture of Russia starts commodity interventions of grain on April 4

Galia Nabieva

The beginning of state commodity interventions-2012 is appointed on April 4, JSC “United Grain Company” reports. Interventions are conducted for provision of stable situation in Russian grain market and for support of agricultural producers.

Participants of grain auctions will be accredited on seven stock exchange sites in Moscow, Nizhniy Novgorod, Saint-Petersburg, Samara, Rostov, Yekaterinburg and Novosibirsk. By April 2 more than 100 companies have been already registered.

The Ministry for agriculture of Bashkortostan and Republican Agricultural Consulting Center opened the distant access center to auctions since 2009. 16 workplaces are opened for participation in the auctions. At present time more than 20 agricultural companies are registered as participants, the Ministry for agriculture RB reports.

Commodity interventions will be conducted in the case of grain of harvests 2005, 2008 and 2009. In a whole the state intervention fund keeps 6,92 million tons of grain for the sum of 32,78 billion rubles. The Russian Ministry for agriculture has announced grain prices in March 2012.

For the reference: JSC “United Grain Company” is the Russian state agricultural company, established in accordance with the presidential decree with the purpose of development of grain market infrastructure, sales of Russian grain in global markets and active trade and purchasing activity in the internal grain market.

#grain market #commodity interventions

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