The Russian Federation sets purchasing interventions prices

05/05/2017,

The Ministry of Agriculture approved new prices for the purchasing interventions of the 2017 grain crop. For the first time, the Ministry set prices for wheat Class 1 and 2; the purchasing prices for wheat Class 3 were reduced by 5.5 percent from 2016, while prices for wheat Class 4 and 5 were lowered by more than 13 percent. The price of soft food quality wheat Class 1 was set at RUB 12 500 (USD 216) per tonne, wheat Class 2 at RUB 11 500 (USD 199 ) per tonne, wheat Class 3 at RUB 10 300 (USD 178) per tonne; 4-grade wheat Class 4 at RUB 9 000 (USD 156) per tonne, wheat Class 5 at RUB 7600 (USD 132) per tonne. Prices were also set for rye, barley and maize, and are the same for all regions. The grain purchasing interventions will start in August 2017. State purchase interventions are triggered when prices fall below the minimum price level set by the Government and aim to support farmers and stabilize grain prices.

Country: Russian Federation