Russia - Government not to sell grains from the Intervention

The Government of the Russian Federation is not going to sell grains from the Intervention Fund due to the unstable situation on the market, announced Victor Zubkov, the First Vice Prime-Minister of the Russian Federation, on November 22.
Friday 26 November 2010 (7 years 9 months 25 days ago)
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The Government of the Russian Federation is not going to sell grains from the Intervention Fund due to the unstable situation on the market, announced Victor Zubkov, the First Vice Prime-Minister of the Russian Federation, on November 22.

The Government measures – the temporary grain export ban, and also the measures, directed for concessional grain transportation through the country territory, allowed to have not bad situation on the grain market, underlined the First Vice Prime-Minister. The regions purchase grains in the central oblasts of the country, and now started purchasing in the Southern regions, the prices level is rather acceptable – 6 thsd RUR/t of grains.

According to him, if the Government starts to sell grains from the Intervention Fund on the market, then during month or two agricultural producers will not receive any profit for the produced commodities. The situation looks stable and it is useless to send grain from the Intervention Fund, noted V.Zubkov. The First Vice Prime-Minister also reminded that from January 1, 2011, flour export trading is allowed, that is why, a lot of regions, having grain surpluses, have to produce flour and sell it.

http://www.agrimarket.info/showart.php?id=101180

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