Russia. Ag Ministry preparing intervention sales of 500 KMT of grain

12.10.2017

The Ag Ministry of Russia is preparing to market 500 KMT of grain as intervention sales. This grain is intended for export, reports UkrAgroConsult.

The United Grain Company (UGC) says that, by instruction of the Ag Ministry, it is elaborating ways of selling 500 KMT of grain from the intervention stock to countries which have not yet purchased Russian grain. However, this requires amending the regulatory and legal framework. Under current law, releasing grain from the intervention stock without exchange trading is only permitted in case of providing humanitarian aid or conducting commodity interventions to avoid shortages in the regions.

No grain shortage is observed in the regions now. So, according to the UGC, to come true, the above-mentioned plans need a government decision making it possible to market intervention stock grain.

At the same time, the company confirmed the Ag Ministry’s plans to make intervention purchases in the grain market in December 2017. Reportedly, they will be carried out in regions featuring the lowest grain prices and having available grain storage capacities.

 

UkrAgroConsult

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