The state on Wednesday, October 26, purchased from farmers 44 820 tonnes for a total amount of 412 941 375 RUB this was reported NTBs.

Main purchased volume was wheat class 4 – 32 130 tons worth 110 311 875 rubles. Also purchased 12 690 tonnes of wheat class 5, amount of purchases which had reached 101 830 500 rubles. The 3rd class wheat and barley in the auction did not appear.

The average prices of purchase of grain as of October 26 were:

• wheat of 4 class – 9 682,9 rubles/t;
• wheat 5 class – 024,5 8 RUB/t

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.