Minister: Russian grain interventions to begin in August

MOSCOW, Apr 27 (PRIME) -- Russia will start grain market interventions in August, Agriculture Minister Alexander Tkachyov told reporters on Thursday.

“Our grain interventions will also start in August,” he said.

The price for the third class grain will amount to 10,300 rubles per tonne, for the fourth class wheat to 9,000 rubles, he said.

The ministry will not cancel its grain market operations program for 2017 because grain prices are falling amid Russia’s grain import disagreements with Turkey, economic and political issues, and the rate of the ruble, he said.

Milk market interventions can begin in July–August but a decision will depend on the market situation because “there is no spare money in the budget,” Tkachyov said.

The ministry sees no need in sugar market interventions, the minister said.

(56.3131 rubles – U.S. $1)

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