The Crimean stock exchange, where on 19 August will start purchasing grain interventions, has accredited its first participants. As reported in the press release of the Ministry of agriculture of the Crimea, they became 9 companies.

Bidding will be scheduled weekly. The exact schedule will be published later. As reported, the state plans to purchase in the Crimea, to 100 thousand tons of wheat of 3-5 classes. This year the farmers of the Peninsula gathered almost 1.5 million tons of grain.

During the intervention, which in September will continue in the Volga region, Siberia and the Urals, the intervention Fund could grow to 2 million tons of grain. Currently, the Fund has 3.3 million tons to 28.9 billion rubles

The mechanism of procurement (procurement by the state grain) and commodity (selling grain from the state intervention Fund) intervention operates in Russia since 2001. It is aimed at the stabilization of prices on the grain market and support agricultural producers. When prices fall, the government removes excess grain from the market in order to stop its depreciation, with a sharp rise in prices - is selling grain from the state Fund and thereby stops its rise in price.

This year, the Ministry of agriculture has approved a minimum price for procurement interventions on wheat of 3rd grade - 10 900 rubles per ton, wheat 4-go a class - 10 400 rubles. The price of wheat of 5th class is 8 800 rubles, rye - 7 400 rubles, barley - 8 000 rubles and corn - 7 900 rubles per ton.