Agriculture Ministry to table proposals for grain market intervention Mar 18
MOSCOW. March 14 (Interfax) - Russia's Agriculture Ministry will present proposals for purchasing intervention on the market for grain from the 2013 harvest on Monday, March 18.
"As was instructed, on Monday at a briefing with the deputy prime minister [Arkady Dvorkovich] we will present proposals for conducting purchasing interventions in the current year," Deputy Agriculture Minister Ilya Shestakov told reporters on Thursday.
He said the ministry will propose various options for intervention depending on the 2013 harvest. The scale of purchases and prices offered will depend on how much grain Russia harvests this year, Shestakov said.
In addition to grain, the ministry will propose purchasing other crops for the state fund, including barley, rye and corn, but specific decisions on them will be made depending on the condition of the market, Shestakov said.
He confirmed previous statements that an intervention purchase price of 6,000-7,000 rubles per tonne would be proposed for Class 3 wheat.
Agriculture Minister Nikolai Fyodorov said earlier that purchasing intervention on the grain market could begin in August-September.
The ministry expects Russia to harvest at least 95 million tonnes of grain this year, compared to 70.9 million tonnes in 2012.
