February 8, 2010

Russia halts grain purchasing interventions

Russia has stopped grain purchasing interventions on the domestic market in February.

This was announced by Viktor Zubkov, the First Vice-Premier on February 6. According to him, it was not necessary for continuation of interventions on the market of grains - to date the market completely regulates itself. In March, the government will make the final decision concerning the possible continuation of grain intervention operations.

In February-March period, the government plans to provide grain exports in order to avoid the reduction of prices on the domestic market, said the Vice-Premier.