Russia: until the end of 2014/15 MY the intervention fund to purchase nearly 600 thsd tonnes of grains – Rusagrotrans

Source

APK-Inform

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Until the end of the current season the public intervention fund can still purchase nearly 500-600 thsd tonnes of Russian grains, in terms of keeping of the current purchasing rates, declared Igor Pavensky, Deputy Director of the strategic management department of Rusagrotrans CJSC, on April 1.

I.Pavensky noted that the currently observed fall of grain prices on the Russian market will strengthen the interest of grain owners in the intervention fund, and increase the sales.

In terms of keeping of the existing export duties on wheat, the significant grain reserves in the South of Russia, positive expectations of the new harvest, and the need to free elevator capacities, will force grain owners to more actively sell grain stocks to the intervention fund, said the expert.

As a reminder, to date the public intervention fund already purchased nearly 516 thsd tonnes of grains on the domestic market. In December 2014, the Minister of Agriculture announced plans to purchase 3.5 mln tonnes of grains to the intervention fund in the current season.

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