According to the Prime-Minister of the Russian Federation Vladimir Putin, in the current year grain exports will total nearly 24-25 mln tonnes.
After that we will impose the certain limitations in order to have the sufficient volume of grain in the country for bread production and to have the carry-over stocks for the next year.
The Prime-Minister also noted that at the moment the Government does not plan to realize grain interventions, but will provide shares-for-loans auction with possibility of buy-back.
According to the Prime-Minister, the stated approach can be explained by the fact that grain intervention costs a lot, it's hard to store grain, there is no the sufficient number of storage facilities, grain quality becomes worse and grain storing cost is at the level of the cost of grain.
Wednesday October 26, 2011/ APK-Inform Information Agency.