The state on Tuesday, December 13, bought from farmers 22 275 tons of grain (out of a proposed 23 625 tons) totaling 219 732 750 rubles this was reported NTBs.
Main purchased volume was wheat class 4 – 20 925 tonnes worth 208 487 250 rubles. To the list offered at auction grain back wheat 5 class – it was purchased in the amount of 1 350 tonnes, the amount of purchases made 11 245 500 rubles. The 3rd class wheat and barley in the auction did not appear.
The average prices of purchase of grain as at 13 December were:
- wheat of 4 class – 9 963,5 rubles/t;
- wheat 5 class – 8 330,0 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"