Russia's grain purchases reach 7.5 million tonnes

Russia has bought 7.5 million tonnes of grain so far since its grain intervention begun on August 2008, according to First Deputy Prime Minister Viktor Zubkov on Thursday (Mar 5).

Zubkov said the government plans to purchase an additional 2.5 million tonnes during the ongoing interventions.

Russia has exported 14 million tonnes of grain so far since the current crop year begun in July 2008, and there are plans to export another 2.5 million tonnes of grain, Zubkov said.

Russia has been carrying out grain interventions since 2001 in order to stabilise prices.