The state on Wednesday, September 28, bought from farmers 61,02 thousand tons (offered for sale 61,115 thousand tons) totaling 608,18 million RUB this was reported NTBs.

The primary purchased amount as the day before, was the wheat of 3 class is 22,95 thousand tons (the entire amount) and 4 - 29.7 thousand tons (the whole volume). It has also been purchased 3,375 thousand tons of wheat class 5 (out of 3.51 million tons) and 4,995 tonnes of barley group 1 (entire volume).

The average prices of purchase of grain as of September 28 were:

• wheat class 3 – 10553,2 rubles/t;
• wheat class 4 – 9975,1 rubles/t;
• wheat 5 class – 8,544,8 rubles/t;
• barley group 1 7829,7 RUB/t

Since the beginning of bidding in 2016/17 MG (19 September) at site NTB was purchased 219,78 thousand tons of grain totaling 2,212 billion.

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 million RUB for the second time the government bought from farmers of 83.43 thousand tons for the total amount of 850,588 million rubles, reported NTB. In the third trading day it was purchased 63,99 thousand tons of grain offered for sale 64,665 thousand tons) for a total amount of 640 million RUB.

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.