August 4, 2010

Russia postpones grain interventions

Russia's Agriculture Ministry has indefinitely delayed grain sales from the intervention fund to regions affected by the ongoing drought.

The ministry had originally planned to start grain interventions on Wednesday (August 4), Agriculture Minister Yelena Skrynnik said earlier.

The launch of the grain sale from the intervention fund on a commodity exchange was delayed because the ministry needs to verify grain balances and demand for grain in each region, the ministry said.

As of now, 27 regions have declared emergency situations due to drought and seven regions have declared emergency situations due to forest fires.