Russian govt allocates another 10 bln rubles to support grain producers

MOSCOW. Dec 1 (Interfax) - The Russian government has allocated another 10 billion rubles to offset the costs of producers of wheat, rye, corn, and barley, and Prime Minister Mikhail Mishustin has signed the corresponding order, according to the government press service.

"The allocated funding will render it possible to provide government support to an even larger number of agricultural producers, including those who operate in Central Russia, the Volga Region, and Siberia. Priority will be given to farmers whose incomes are lower than the Russian average, including owing to the specific climate, as well as the remoteness of their regions from seaports," according to the statement.

Farmers through the subsidies will be able to offset up to 50% of the costs of producing and selling grain crops. This will assist in preserving sown areas and boosting export capacity, as well as creating new jobs in rural areas, the press release notes.

The government has allocated 20 billion rubles from the federal budget in 2023 to support grain producers. Additional funding will come from the government's reserve fund. The matter of allocating the funds was considered and approved at a meeting of the Cabinet of Ministers on November 30.