The state on Tuesday, December 6, bought from farmers 19 035 tonnes of grain (of the proposed 19 575 tons), totaling 181 362 375 RUB this was reported NTBs.
Main purchased volume was wheat class 4 – 16 875 tonnes in the amount of 164 116 125 rubles. Also purchased 2 160 tonnes of barley, the purchase amount of which has reached 17 246 250 rubles. Wheat classes 3 and 5 in the auction did not appear.
The average prices of purchase of grain as of 6 December were:
- wheat of 4 class – 9 USD 725.4 rubles/t;
- barley – 7 984,4 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"
