Russia will buy 3 million tons of grain from domestic producers
The state will purchase 3 million tons of grain from domestic farmers in 2026-2027 through the mechanism of procurement interventions. This follows from the protocol of the Ministry of Agriculture for the selection of a bank to finance public procurement, Interfax reports.
The state will purchase 3 million tons of grain from domestic farmers in 2026-2027 through the mechanism of procurement interventions. This follows from the protocol of the Ministry of Agriculture for the selection of a bank to finance public procurement, Interfax reports.
The state will buy soft wheat of 3-4 classes and rye. The Ministry of Agriculture noted that the actual volume of annual purchases will depend on the situation on the market of "relevant agricultural products within the scope of financing.".
Interventions on behalf of the Ministry of Agriculture will be conducted by the United Grain Company. It began selecting storage facilities for grain in 14 regions. Now the volume of the state fund is 3.7 million tons, its main reserves are stored in Siberia and the Volga region. The main share of reserves (about 3.6 million tons) is food wheat.
The mechanism of procurement and commodity interventions has been operating in Russia since 2001. The state removes excess grain from the market to stop its cheapening. State grain purchases are aimed at supporting domestic producers who have faced difficulties in exporting due to attacks by the Ukrainian Armed Forces on ships in the Black Sea and grain terminals of Novorossiysk. Shipment of main types of grain for the second decade of September decreased to 381 thousand tons against 1.6 million tons last year.
