April 14, 2009
Russia to retain grain procurement policies this year
Russian Minister of Agriculture Elena Skrynnik said grain intervention (procurement) prices for marketing year (MY) 2009 will not change from the current level; 5,500 rubles per tonne (R/T) for class 3 wheat and 4,900 (R/T) for class 4 wheat in European Russia and 6,000 R/T of class 3 wheat and 4,800 R/T wheat in Ural, Siberia and Russian Far East.
The US Agriculture Department said the Russian agriculture ministry can correct prices at any time throughout the year and federal funds for these interventions are set at 20 billion rubles. Along with the continued grain procurement, the government will increase its role in the grain market through the State United Grain Company, control over inputs supply prices and through grain exports on terms of aid and within inter-government tight contracts.
For more of the USDA report, please click here.
