The Government of the Russian Federation allowed to sell for export 500 thsd tonnes of wheat and feed barley from the public intervention fund in 2017-2018 period. The relevant decree #2921-r dd. December 23, 2017, was published at the official web-portal for legal information.
According to the document, the fund will export grains purchased within procurement interventions in 2008-2016 period. In order to organize the shipments, the Ministry of Agriculture was charged to make the public agent (UGC) to sell grains at the stock trading to participants of foreign economic activities, which then will supply grains on the global market at the prices not lower than the market ones, taking into account the deliveries to land border-crossing points or seaport railway stations. The successful contractors will receive grains under EXW terms.
Also, the decree specified that the funds received from export sales of grains will come to the federal budget income, except for the funds necessary for loans repayment by the public agent for formation of the state fund and payment of taxes established by the Russian legislation.
