The state on Wednesday, November 2, bought from farmers 22 410 tons for a total amount of RUB 125 212 689 reported NTBs.
Main purchased volume was wheat class 4 – 16 200 tons at $ 160 788 375 rubles. Also purchased 4 of 860 tons of wheat class 5, the purchase amount of which has reached 41 of 100 750 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 2, were:
- wheat of 4 class – 9 925,2 rubles/t;
- wheat 5 class – 8 456,9 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"
