The Ministry of Agriculture of Russia proposed to allow the exports of grain crops from the public intervention fund. The Ministry published the relevant draft decree at the official web-portal for legal information.
According to the explanatory note, the need to reduce the budget costs for grain maintenance became the main reason for the proposed measure.
The Ministry plans to export intervention grains of 2008-2013 harvest, which total nearly 530 thsd tonnes. Also, the exports of grain stocks will allow avoiding additional pressure on the domestic prices.
However, the officials will take the final decision on grain exports from the intervention fund taking into account the harvesting campaign rates, as well as the global and domestic market conditions. If accepted by the Government, the reporting decree will enter into force in September 2017.
