News

The Russian intervention fund purchased more than 11 thousand tons of grain

Wheat
Grains, Cereal & Legumes
Russia
Market & Price Trends
Published Apr 19, 2024

Tridge summary

On Wednesday, Russia significantly increased its grain purchases for the intervention fund, buying 11,070 tons, the highest amount in a week, for 162 million 548 thousand rubles. These purchases, consisting of two batches of soft wheat from the previous year's harvest, are part of efforts that began on December 11 of the previous year to stabilize domestic prices by preventing significant fluctuations. With the total volume nearing one million tons out of a planned two million, this move comes in response to a surplus of grain following record harvests in 2022 and the year before, aiming to maintain market stability.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

This Wednesday, grain purchases to the Russian intervention fund stabilized, already amounting to 11,070 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 9,055 tons more than the new anti-record that was set yesterday, and also the largest figure of the week. Two batches of soft wheat were again sent to storage. The majority, 7,020 tons, was of the fourth class (hereinafter also “four”), the remaining 4,050 were in the third (hereinafter also “troika”). Both are from last year's harvest. We also note that during the entire trading period of the past and current years, the fifth was never sent for storage. The total cost of grain amounted to 162 million 548 thousand rubles (hereinafter – excluding VAT). Including, “fours” were purchased for the amount of 99 million 821 thousand, “troikas” - 62 million 726 thousand. Five agreements were concluded for each of the ...
Source: Rosng
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