To date, the Ministry of Agriculture of Russia is not planning any significant purchases of grain volumes to the public intervention fund in the second half of the season, declared the Director of the Department of food markets regulation at the Ministry of Agriculture, Vladimir Volik on November 18.
At the same time, the official stressed that the Government will determine more accurate purchasing volumes taking into account the further market conditions.
In January, the intervention fund will realize some selective purchases of grains. In terms of the bearish trend in the quarter I, the fund will continue purchasing grains. But to date, the market price continues growing, said V.Volik.
It should be noted that, since the beginning of the season the public intervention fund already purchased more than 764 thsd tonnes of grains. According to the head of the Ministry, Alexander Tkachev, in 2016/17 MY the fund will purchase nearly 2 mln tonnes of grains.
