December 2, 2009

Average grain purchasing prices in Russia decline

The National Commodity Exchange (Russia) on December 1 provided the regular exchange auction within the bounds of the state purchasing interventions on the market of grains. The government purchased 105.3 thousand tonnes of grains at the general sum of RUB356.5 million (US$12.26 million), reports media department of CJSC National commodity exchange.

During the whole auction period, the government purchased 909.09 thousand tonnes of grains from agricultural producers, including 723.06 thousand tonnes of 3-grade wheat and 159.03 thousand tonnes of 4-grade wheat, and 27 thousand tonnes of rye, at the general sum of RUB3.26.

The average weighted price of 3-grade wheat, purchased to the intervention fund, totalled RUB4178 /tonne; 4-grade wheat = RUB3447.3 /tonne; rye = RUB2070.7 /tonne.

US$1 = RUB29.06 (Dec 2)