News

The Russian intervention fund purchased 5.4 thousand tons of grain

Wheat
Grains, Cereal & Legumes
Market & Price Trends
Published Apr 13, 2024

Tridge summary

Russia's National Commodity Exchange reported a decrease in grain purchases on the last day of the week's interventions, buying 5,400 tons and bringing the total since December 11 to 962,685 tons. Aimed at stabilizing domestic grain prices and maintaining reserves, the final day's purchases were from the Kurgan and Penza regions. The government's ongoing strategy since 2001 includes plans to buy an additional two million tons from farmers to bolster the 'irreducible reserve,' ensuring market stability and food security through these commodity interventions.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

This Friday, the last day of grain interventions this week, grain purchases to the Russian intervention fund amounted to 5,400 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 3,105 tons less than the volumes on Thursday and only 270 tons more than the anti-record that was purchased on March 4. This time, not only was rye not supplied to the fund again, but only two batches of wheat were purchased instead of three as in the last few days. Moreover, for the first time during these interventions, the class and year of production of the batches coincided. This was the third class (hereinafter also “troika”) of last year’s harvest. One of his shipments amounted to 3,375 tons, the other – 2,025. Two contracts were concluded for the first of the “triples”, and three for the second, although the first of them had larger volumes. In total, grains were purchased for 83 ...
Source: Rosng
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