The state on Wednesday, November 9, bought from farmers 32 400 tons of grain (from 33 750 tonnes) for a total amount of 305 808 750 rubles this was reported NTBs.

Main purchased volume was wheat class 4 – 24 300 tons in the amount of 239 125 230 rubles. Also it was bought 6 750 tons of wheat class 5, amount of purchases which had reached 55 778 625 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 9 were as follows:

• wheat of 4 class – 9 844,9 rubles/t;
• wheat 5 class – 8 263,5 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.