News

Grain purchases to the Russian State Fund have reached another minimum

Grains, Cereal & Legumes
Russia
Market & Price Trends
Published Feb 29, 2024

Tridge summary

The National Commodity Exchange has reported that purchases of Russian grain to the intervention fund have dropped to a record low of 5,265 tons, 395 tons less than the previous minimum. Since December 11 last year, the fund has bought 760,320 tons of grain worth 10 billion 790 million 92 thousand rubles. The new reserves will be used in case of an urgent need for grain among farmers, a shortage, or to sell to domestic flour millers.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

This Tuesday, purchases of Russian grain to the intervention fund again fell to a new record level, amounting to 5,265 tons. This is reported in the materials of the permanent participant in such trading, the National Commodity Exchange (NTB, part of the Moscow Exchange group). This is 395 tons less than the previous minimum on February 22 and 5,670 less than the volume on Monday. This time, only two batches were sent to the fund. 4,050 tons were soft wheat of the third class (hereinafter also “troika”) from last year’s harvest and 1,200 of the same class from the 2022 harvest. Three agreements have been concluded under the first of them, and one agreement under the second. The cost of the “troika” of last year’s harvest was 63 million 261 thousand rubles, the year before last – 18 million 978 thousand. The weighted average prices of both batches amounted to 14,200 rubles per ton. This time, only two regions sent grain for storage - the Ryazan region and the Krasnoyarsk Territory. ...
Source: Rosng
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