The state on Tuesday, November 29, bought from farmers 19 440 tonnes of grain (of the proposed 19 440 tons) for a total amount of 186 030 000 rubles this was reported NTBs.
Main purchased volume was wheat class 4 – 16 740 tons for the sum of 163 771 875 rubles. Also purchased 2 700 tons of wheat class 5, the purchase amount of which has reached 22 258 125 rubles. The 3rd class wheat and barley in the auction did not appear.
The average prices of purchase of grain as of November 29 were:
- wheat of 4 class – 9 783,3 rubles/t;
- wheat 5 class – 8 243,8 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.
Translated by service "Yandex.Translation"
