December 23, 2011

Russia buys 48,000 tonnes of grains at public intervention sales

Russia bought more than 48 thousand tonnes of grains at the regular public intervention sales on December 20 (Tue), according to press-service of the National Mercantile Exchange.

In particular, the fund purchased 32.67 thousand tonnes of 3-grade milling wheat. The average price is RUB4611 per tonne (US$147.3 per tonne). And they also purchased 15.8 thousand tonnes of 4-grade milling wheat. The average price is RUB4439 per tonne (US$141.8 per tonne).

During the period of intervention sales on November 29 to December 20, 2011, the Government purchased 278.91 thousand tonnes of grains (183.33 thousand tonnes of 3-grade wheat and 95.58 thousand tonnes of 4-grade wheat).

The absolute minimum price of 3-grade wheat totalled RUB4100 per tonne (US$140 per tonne), 4-grade wheat at RU4350 per tonne (US$139 per tonne).

The average price of purchased grains to the intervention fund totalled RUB4611.9 per tonne (US$147.3 per tonne) for 3-grade wheat and RUB4439.5 per tonne (US$141.8 pre tonne) for 4-grade wheat.