More than 5 thousand tons of grain were purchased for the intervention fund of the Russian Federation

Published May 18, 2024

Tridge summary

Russia's intervention fund has made significant grain purchases, adding 5,400 tons at a cost of 15.59 billion rubles, bringing the total acquisitions to 1.53 million tons since December 11 of last year. The recent purchase, mainly soft wheat from the Altai Territory, was the largest this week and was made to address the oversupply and low prices resulting from record harvests in 2022 and 2021, which have affected market stability. These interventions are part of efforts to regulate prices and are essential for emergency assistance to farmers or flour millers, highlighting the importance of maintaining market balance and ensuring food availability.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Yesterday on Thursday, grain purchases to the Russian intervention fund continued to grow. They amounted to 5,400 tons, as reported in the materials of the permanent participant in such trading, the National Commodity Exchange (NTB, part of the Moscow Exchange group). This is 2,160 tons more than on Wednesday and the largest figure so far this week. Also, this time such a good volume was again represented by only one batch. This is soft wheat of the third class (hereinafter also “troika”) from last year’s harvest. Only one supply contract was concluded for it. The cost of the “troika” (hereinafter – excluding VAT) was 84 million 348 thousand rubles, the weighted average price was, as usual, 14,200 rubles per ton. Only one region sent grain – Altai Territory. On Wednesday, in addition to him, the Orenburg region supplied its parties. We also remind you that rye has not been sent to the fund since April 26. But even then only 135 tons of it were supplied for a total amount of 1 ...
Source: Rosng
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