The state on Monday, the sixth day of purchasing interventions of the 2016/2017 season, bought from agricultural producers of the Kurgan and Omsk regions of 11.34 tons of grain (from tendered to 14.04 thousand tons) for a total 113,083 million rubles, reported NTB. Thus, we have purchased more than 80% of the proposed grain.

The auction was held in the Asian part of the Russian Federation - on the basis of the Kurgan and Omsk regions. All in all there were 3 auctions out of 4-H.

Purchased volume was wheat class 3 - 3,915 thousand tonnes (6,615 tons) and wheat class 4 - 7,425 thousand tons (total auctioned volume).

The average prices of purchase of grain by the end of trading was:

• wheat class 3 - 9965,5 rubles/t;

• wheat class 4 - 9975,5 RUB/t

The second auction in the framework of the procurement of agricultural interventions 2016-2017 year will be held on September 21, options trading is not yet defined

We will remind that as a result of five trading days on the Crimean stock exchange, the government bought from farmers of 22.84 thousand tons of wheat of the 4th class 225,5 million rubles, 18,25 thousand tons of wheat of the 5th grade 99.5 million rubles, and of 2.43 tonnes of barley 19.4 million.

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.