News
29.03.2011
Russia sold over 788 thsd tonnes of grains from the intervention fund
During the period of February 4 – March 24, 2011, within frames of the exchange commodity sales from the state intervention fund of Russia, the National Commodity Exchange sold over 788 thsd tonnes of grains. 230 organizations received the opportunity to purchase the reporting grain volumes, and OJSC United Grain Company concluded agreements of sale and purchase with the companies. 595 organizations were accredited as participants of the exchange commodity sales, declared the press-service of United Grain Company on March 28.
As a reminder, the exchange commodity sales from the intervention fund is realized on the basis of the decree of the Government of the Russian Federation dd. January 26, 2011. In the first and second quarters of 2011, the Government plans to sell nearly 500 thsd tonnes of grains per month. The National Commodity Exchange sells grains of the intervention fund to agricultural commodity producers, producing animal products, flour and mixed fodders. During the process of commodity interventions the authorities provided several essential changes to the exchange sales mechanism. On February 22, the Government of Russia took decision to distribute all feed grain volumes of the public intervention fund via applications from the regions at the fixed prices, formed by the required Decree of the Government, the National Commodity Exchange continued selling milling grain volumes only. The necessity to support the domestic animal breeding industry influenced to arriving of the decision. According to Sergey Levin, Director of OJSC United Grain Company, due to the measures, accepted by the Government, the grain prices lowered by 10% throughout all regions of Russia and continue decreasing compared to the beginning of the intervention sales.
