April 14, 2011
 

Russia restarts grain intervention selling

On April 13, 2011, the National Commodity Exchange supplied regular exchange trades of grains from the state intervention inventories and the government sold 12,950 tonnes of grains at the general price of RUB80.607 million (US$2.86 million).

During the entire auction period from February 4-April 13, the commodity exchange sold 40,290 tonnes of third-grade wheat from the 2005 harvest and 239,700 tonnes of third-grade wheat from the 2008 harvest; 208,980 tonnes of fourth-grade wheat from the 2008 harvest, and 5,400 tonnes of fourth-grade wheat from the 2005 harvest. The government also sold 8,100 tonnes of fourth-grade wheat from the 2009 harvest.

By this time, the government would have sold 828,140 tonnes of grains.

The mean weighted price of third-grade wheat of 2005 and 2008 origin, sold from the intervention fund, reach a total of RUB6627.80/tonne (US$235) and RUB6663.2/tonne (US$237) respectively. Fourth-grade wheat was sold at RUB6202.5/tonne (US$220) and RUB6364.10/tonne (US$226) respectively, and fourth-grade milling wheat from 2009 was sold at RUB6275/tonne (US$223).

The National Commodity Exchange did not give exchange trades from the public intervention fund last week because of the stabilisation of prices on the local grain market of the Russian federation, attended with the reduction in active buying interest in the range of agricultural commodities.