Agriculture ministry not to buy grain for intervention fund 2023

ST. PETERSBURG, Aug 14 (PRIME) -- The Agriculture Ministry plans no grain purchases for the intervention fund in 2023, First Deputy Minister Oksana Lut said on Monday.

"We do not plan to buy grain for the intervention fund this year and in this season. We have enough grain to provide for the national food security, this is why there is no need in the purchases," Lut said.

Russia launched a mechanism of sales and purchase interventions on the grain market for price stabilization and farmer support in 2001. A state reserve of 3 million tonnes was reached in 2022, after which farm associations asked the Agriculture Ministry to expand the fund volume.

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