June 5, 2012

Russia's state intervention fund sells almost two million tonnes grains

The state intervention fund of Russia already sold 1.998 million tonnes of grains at the stock exchange sales for RUB10.789 billion (US$0.32 billion) since the beginning of the public interventions trades in 2012.

The public intervention fund of Russia exposed 183.659 thsd tonnes of grains of the harvests in 2005, 2008 and 2009 at the auction with the participation of 42 companies on May 31, 2012.

During the exchange sessions the public intervention fund sold 51.475 thsd tonnes of grains at the general sum of RUB282.337 million (US$8.32 million), including 27.642 thsd tonnes of grains of the harvest-2008 at the sum of RUB139.632 million (US$4.11 million) and 23.833 thsd tonnes of grains of the harvest-2009 at the sum of RUB142.704 million (US$4.21 million).

Twenty-seven organisations became the winners of the exchange stock trades, with which OJSC United Grain Company will conclude sales contracts.

As of May 31, 2012, 321 organisations were already accredited to participate in the public commodity interventions.