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October 31, 2008

 

Russia purchases 62,000 tonnes of grain
 
 

Russia bought about 62,000 tonnes of grain in interventions for a total of RUB 265.8 million (US$9.8 million), the National Commodities Exchange (NCE) said.

 

The government has bought a total of 616,800 tonnes of grain for RUB 2.6 billion (US$96 million) since trading started on August 19, including 303,600 tonnes of class-five wheat for RUB 1.2 billion (US$44.3 million).

 

So far, the purchased grain include 4,860 tonnes of class-three wheat for RUB 24.3 million, 181,300 tonnes of class-four wheat for RUB 881.3 million, 116,600 tonnes of barley for RUB 442.7 million, and 10,400 tonnes of food rye for RUB 40.3 million.

 

The average purchase price for class-three wheat is RUB 5,000 per tonne, class-four wheat is RUB 4,860.9 per tonne, class-five wheat is RUB 4,067.2 and coarse barley is RUB 3,796.3.

 

Russia has allocated about RUB 30 billion for grain purchases this year.

 

RUB 1 = US$0.03689 (October 31, 2008)

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