May 12, 2011

United Grain Company sells intervention feed grains

Almost 50 regions bought intervention feed grains offered by the United Grain Company.

JSC United Grain Company continues executing the decree of the Government of the Russian Federation #188 dated on March 24, 2011, "On providing of feed grains realisation in 2011 from the stocks of the Federal Intervention Fund of agricultural commodities, raw-materials and food without carrying of the exchange sales".

According to the company, as of May 10, 2011, United Grain Company concluded over 4,700 contracts of sale of feed grains with 3,300 enterprises from almost 50 regions of Russia. The total volume of feed grains, sold in these regions of Russia according to the signed contracts, totalled 1.54 million tonnes. The buyers provided payment for 732,000 tonnes of feed grains, and the company has received over 80% of paid grain volumes to date.

According to the decree of the government of the Russian Federation, the public intervention fund to sell up to 2.387 million tonnes of feed grains, including 1.4 million tonnes of 5-grade soft wheat and 982,000 tonnes of feed barley, purchased during public purchasing interventions in 2008-2009.