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Russia to End Grain Market Intervention This Week

Russia to End Grain Market Intervention This Week
12:50 07/06/2012
GELENDZHIK, June 7 (RIA Novosti)
Tags: grain, Russia

Russia’s Agriculture Ministry will end intervention in the country's grain market this week, Deputy Agriculture Minister Ilya Shestakov said on Thursday.

“Owing to the fact that new grain harvest stocks will start flowing into the market virtually in two weeks, we have decided to halt grain market intervention. This week, the last grain interventions will be held,” Shestakov told the 13th international grain round, entitled: “Grain Market – Yesterday, Today and Tomorrow.”

Shestakov said the government’s grain market intervention had helped achieve balanced prices on the domestic agricultural market.

“The price that is now quoted on the market, i.e. 6,000-6,300 rubles ($187.50 - $197) per ton, is quite acceptable for all sectors,” Shestakov said.

The Russian government has sold over 2 million tons of grain on the market since grain intervention began on April 4.

Russia may harvest 92-94 million tons of grain in the agricultural year starting July 1, an Economic Development Ministry official told the grain forum.

“According to an Economic Development Ministry forecast, gross grain harvest will amount to 92-94 million tons. We believe that with this harvest, grain exports may amount to no less than 22-23 million tons,” said Lyudmila Tyazhelnikova, director of the ministry’s economic sector development department.

Russia’s last year harvest amounted to 94.2 million tons.

 

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RIA NovostiRussia to End Grain Market Intervention This Week  Russia to End Grain Market Intervention This Week

12:50 07/06/2012 Russia’s Agriculture Ministry will end intervention in the country's grain market this week, Deputy Agriculture Minister Ilya Shestakov said on Thursday.>>

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  • PETEPETEPETEHurray!
    13:08, 07/06/2012
    Let the free market reign. Russia must resume the path that was interrupted by the Western-created and Western-financed Bolsheviks. Western powers did not wanted another "United States" around this is why they unleashed the Bolsheviks on Russia. From 1917 to 1986 the USSR was a total captive market that gave the Western super-capitalists immense money and power.

    Only the power of free market can unleash the creativity of the population, the State should try to get out of the way as much as possible.

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