4 Aug 2010 14:50

Agriculture Ministry sets grain price for commercial interventions in 2010

MOSCOW. Aug 4 (Interfax) - Russia's Agriculture Ministry has issued two orders that set the maximum grain price for holding commercial interventions on the grain market in 2010. The first order sets the price for grain purchased for the intervention fund for 2005-2006 and the second for grain purchased in 2008.

The Justice Ministry registered the orders on July 30, 2010.

The maximum price for class-3 wheat purchased in 2005-2006, which is being used for commercial interventions in 2010, comes to 3,410 rubles per tonne (including VAT) while the price for class-4 grain is 2,650 rubles.

The maximum price for class 5 wheat purchased in 2008 was set at 4,550 tonnes and for fodder barley - 4,200 rubles per tonne (with VAT). The Federal Tariff Service has approved these price settings.

It was earlier reported that the Agriculture Ministry planned to start commercial interventions on the grain market (selling grain from the intervention fund) on August 4 but this was delayed for an unspecified amount of time owing to draught and the need to adjust forecast balances on grain. A total of 3 million tonnes was going to be sold at auction for regions declared under emergency because of draught.

First Deputy Prime Minister Viktor Zubkov said last week that intervention grain could be sold to suffering regions according to quotas.

The fund currently has 9.5 million tonnes of grain.