9 Oct 2009 17:16

Grain intervention held up over

MOSCOW. Oct 9 (Interfax) - The start to government grain interventions has been held up over problems allocating funds, Agriculture Minister Yelena Skrynnik said.

The ministry and the purchasing agent, United Grain Company, are technically ready for the interventions, "but there are small problems with the allocation of funds," Skrynnik said at a meeting with federal and regional media on Friday at the Golden Autumn agriculture exhibition.

She did not elaborate, saying only that the problems will be resolved in 10 to 14 days.

The market is also ready for the interventions, she said. "We understand the price situation. The elevators have been selected, we will conduct the interventions, but we waited until the harvest was completed, in order to understand the market situation," she said.

The maximum prices have been announced for the interventions. The actual purchases will be transacted at a lower price.