The state on Wednesday, the seventh day of purchasing interventions of the 2016/2017 season, bought from the farmers of 83.43 thousand tons for the total amount of 850,588 million rubles, reported NTB. Thus, there were purchased all the offered volume of grain.

In this case the auction was held in the Asian part of the Russian Federation - on the basis of Kurgan, Omsk and Novosibirsk regions and Altai and Krasnoyarsk territories and the European - on the basis of the Volgograd, Ulyanovsk and Saratov regions.

Purchased volume was wheat class 3 - 38,61 thousand tons, 4 classes - of 36.45 million tons and 5 class - of 8.37 thsd tonnes.

The average prices of purchase of grain as of September 21 were:

• wheat class 3 - 10559,7 rubles/t;
• wheat class 4 - 10068,2 rubles/t;
• wheat 5 class - 8707,3 RUB/t

We will remind that the first auctions on NTBs held on Monday. Then the state bought 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 thousand RUB So it was purchased more than 80% of the proposed grain.

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.