April 8, 2011

Russia's UGC sells 152,000 tonnes of grain to Tatarstan companies

The United Grain Company (UGC) has signed agreements with 77 agricultural companies from the country's constituent republic of Tatarstan to sell 152,000 tonnes of food grain from the government's Intervention Fund.

The grain was sold directly without exchange trading, the company also said without providing any financial details.

In March, Russian Prime Minister Vladimir Putin signed a decree to sell up to 2.387 million tonnes of food grain from the fund directly to Russian regions in 2011.

The United Grain Company is the government's agent for grain purchases aimed at supporting domestic producers and increasing competition.