Russia cancels grain interventions in Crimea on Thursday

MOSCOW, Oct 15 (PRIME) -- The Russian government has cancelled Thursday’s grain purchases for the state intervention fund in Crimea due to an order to change the purchase price, an Agriculture Ministry spokesperson told PRIME.

“Trading at the Crimea exchange will not be held today, the order to change the purchase price was published at the official Web site for disclosing legal information on October 13 and in Rossiyskaya Gazeta on October 15< but it will come in force only 10 days after the publication…This is why trading under new prices will be held after October 24,” the representative said.

The ministry launched grain interventions on August 19, but until September 15 trades were held only at the Crimean exchange. From September 15, trading was also launched at the National Mercantile Exchange on Tuesdays.

Until the end of 2015, the ministry plans to buy up to 2 million tonnes of grain for the intervention fund. Since August 19, the ministry bought 30,115 tonnes of grain at the Crimean exchange for 267.517 million rubles and 32,670 tonnes at the National Mercantile Exchange for 278.856 million rubles. As of October 9, the state grain intervention fund stood at 1.862 million tonnes of grain worth 12.868 billion rubles.

(63.1248 rubles – U.S. $1)

End