The state on Tuesday, November 1, bought from farmers 25 785 tons, totaling 239 368 500 rubles this was reported NTBs.
Main purchased volume was wheat class 4 – 17 550 tons worth 171 642 375 rubles. It has also been purchased 6 885 tons of wheat class 5, amount of purchases which made up 56 926 125 rubles. Wheat class 3, bids were listed. Barley purchased in the amount of 1 350 tonnes over 10 800 000 rubles.
The average prices of purchase of grain as of November 1 were:
- wheat of 4 class – 9 780,2 rubles/t;
- wheat 5 class – 8 268,1 rubles/t;
- barley – 8 000,0 RUR/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.
Translated by service "Yandex.Translation"
