News

The Russian intervention fund purchased more than 10 thousand tons of grain

Wheat
Published Feb 28, 2024

Tridge summary

The volume of Russian grain purchases for the state intervention fund has risen to 10,935 tons, a significant increase from the previous record, according to the National Commodity Exchange. The grain, which includes two common classes of wheat and rye, was bought for a total of 155 million 583 thousand rubles. This increase in purchases is a result of a record harvest in 2022, leading to an oversupply in the market and negatively impacting prices, despite the Ministry of Agriculture's initial decision not to hold auctions due to sufficient stocks and stable prices.
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

The volume of purchases of Russian grains to the state intervention fund began to grow again and amounted to 10,935 tons. This is reported in the materials of the permanent participant in these trades, the National Commodity Exchange (part of the Moscow Exchange Group). This is 5,255 tons more than the last anti-record, which was set last Thursday before the holiday and weekend, but 1,080 less than the last high result on Wednesday. However, this time the grain was presented in five batches at once - the two most common classes of wheat of different harvests and rye. 2,700 tons were soft wheat of the fourth class (hereinafter also “four”) of the 2022 harvest, as well as rye of at least third class (hereinafter also “three”). 2,430 tons came from the “troika” of last year’s harvest, another 2,020 from the “four” of the same year of production and 1,080 from the “troika” from the year before last. One agreement was concluded for the batches of 2022, as well as last year’s fourth ...
Source: Rosng
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