Russia: public intervention fund to export 500 thsd tonnes of grains

Source

APK-Inform

836

The Ministry of Agriculture of the Russian Federation plans to export nearly 500 thsd tonnes of grains from the public intervention fund, declared the Deputy General Director of United Grain Company, Dmitry Yuryev on October 9.

To date, United Grain Company works out several scenarios to export 500 thsd tonnes of intervention grains to the countries where Russian exporters have not supplied grains yet. At the same time, D.Yuryev specified that there are required some changes to the regulatory and legal framework, in order to realize the reporting plans.

He explained that in accordance with current legislation, selling of grains from the intervention fund without exchange auctions was allowed only in terms of humanitarian aid or commodity interventions to exclude deficits in various regions. But to date, there is no grain deficit in the regions. The reporting plans require a special decision by the Government allowing to sell grains from the intervention fund, D.Yuryev said.

According to the Director of the department of agricultural market regulations at the Ministry of Agriculture, Anatoliy Kutsenko, in the reporting case it is referred to optimization and updating of the intervention fund.

The officials are preparing proposals in the sphere, in order to meet all domestic requirements in the first place, even in case of significant reduction of the harvest volumes in the future, so that it does not create volatility on the market, A.Kutsenko said.

Also, he confirmed the Ministry's plans to realize grain purchasing interventions in December 2017 on the grain market of the regions with the lowest grain prices and free storage capacities. It is necessary to balance the domestic needs of the country, to create certain insurance stocks. At the same time, Russia should avoid forming of the surpluses, which will affect the pricing policy and profitability of agrarians, said the Head of the department.

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