The first day of grain interventions brought sales of more than a half of the total offer
13 Apr, 2020
To stabilize the domestic grain market pricing, the Ministry of Agriculture started selling grain from the national intervention fund on April 13.
More than a half of the bulk put up for sale on the first day (200 thousand tons) was acquired.The exchange trading session resulted in 61 completed transactions in the amount of 121.4 thousand tons of grain for money total of 1.39 billion rubles. The next sales from the intervention fund are scheduled by the National Commodity Exchange for April 14, 15 and 17, 2020.
The needs of livestock enterprises, milling and baking industries urge up to 1.5 million tons of grain to be distributed all over domestic market. If the price of grain falls below the targets, the interventions should be ceased. At the same time, the grain sales from the state fund can be continued in accordance with Order of the Government of the Russian Federation No. 817-p as of 03/31/2020.