April 9, 2009
Russia to export two million tonnes of grain from intervention fund
Russia plans to export two million tonnes of grain from its intervention fund, according to Agriculture Minister Yelena Skrynnik Tuesday (Apr 7).
Decisions are being made to unload the main elevators in the central and southern parts of Russia, Skrynnik said.
The intervention fund currently contains more than 8.5 million tonnes of grain, she said.
The Agriculture Ministry has already approved purchasing prices for the new interventions and could increase the prices depending on the situation on the grain market, she said.
The Russian Agriculture Bank has allocated RUB20 billion (US$594.4 million) for the purchase of grain from the new harvest, and Russia would export about 20 million tonnes of grain before June 1, 2009, Skrynnik said.
