Russia seeks to raise grain sales from state fund above plan

MOSCOW, Aug 7 (PRIME) -- Russia’s Agriculture Ministry is preparing a draft ruling to raise grain sales from the state intervention fund above the plan of 500,000 tonnes, a spokesperson for the ministry told PRIME on Tuesday.

In December 2017, the government signed a ruling allowing the ministry to sell up to 500,000 tonnes of grain for exports from the fund in 2018. The National Mercantile Exchange (NAMEX) launched export sales of grain from the fund on June 20.

“The volume of exchange deals amounted to around 336,000 tonnes of grain during 20 trading sessions (67% of the plan of 500,000 tonnes) with a total price of around 2.739 billion rubles. The ministry is preparing a draft ruling encompassing additional grain sales on the domestic and foreign markets,” the spokesperson said.

(63.4975 rubles – U.S. $1)

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