Russia to start grain purchasing interventions in September 2014
In 2014 Russia will start grain purchasing interventions in September, declared the Ministry of Agriculture of the Russian Federation on August 22.
Taking into account the good production forecast for 2014, which may reach 104 mln tonnes of grains, the Ministry of Agriculture took decision to begin purchasing interventions in September (in 2013 the public interventions began on October 15).
The decree of the Ministry fixes the threshold levels of the minimum prices for grains of the harvest-2014 within the public purchasing interventions. For example, in the European part of Russia the reporting prices for 3-, 4- and 5-grade wheat will total 6750 RUR/t, 6450 RUR/t and 6100 RUR/t, respectively. In the Asian part of the Russian Federation the reporting indices will total 6400 RUR/t, 6200 RUR/t and 6000 RUR/t, respectively. As for other crops, the minimum purchasing prices will be the same throughout the whole country: rye of A group - 5100 RUR/t, feed barley - 5150 RUR/t, maize - 5600 RUR/t.
The purchasing interventions will be carried out through exchange trading at CJSC National Mercantile Exchange, which has 7 regional stock exchanges (Moscow, Ekaterinburg, Novosibirsk, Samara, Nizhny Novgorod, Rostov-on-Don, St. Petersburg), and 44 centers of remote access to ensure the maximum access of agricultural producers to the trading process.
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