Russia: possibility of early completion of the grain purchasing interventions
To date the Ministry of Agriculture of Russia plans to continue holding grain purchasing interventions in the current regime, which means that weekly the Government purchases nearly 60 thsd tonnes of grains, however the Ministry does not exclude the possibility of early completion of the purchasing interventions, declared Ilya Shestakov, Deputy Minister of Agriculture, on December 20.
According to him, agrarians are not actively selling grains. The price dynamics shows that the interest in grain purchasing interventions will continue lowering. If the dynamic continues, the Ministry will come out with a proposal to complete the interventions, said I.Shestakov, explaining that the decision will be based on market conditions.
I.Shestakov also noted that the Ministry does not expect for active coming of the applications for buyback of grains, which agrarians sold within the current purchasing interventions, until March-April of 2014.
The Deputy Minister reminded that during the purchasing interventions which are conducted since October 15, the Government already purchased nearly 500 thsd tonnes of grains. At the same time, since January 1, 2014, agrarians can start buy-backing grains, if the price situation on the market does not allow to sell grains in more profitable way.
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