Russia’s Ministry of Agriculture sets minimum purchase prices for grains

21/04/2015,

The Ministry of Agriculture has set minimum prices for the purchase of grain crops procured from July 2015 to July 2016. The price of class 3 wheat in the European part of the country is set to decrease from 10 100 roubles (USD 194) to 9700 roubles (USD 186) per tonne and from 10 000 (USD192) to 9500 (USD 182) in the Asian part. The prices of class 4 and 5 wheat were also reduced whereas the prices of rye, barley, and maize were increased from 5100 (USD 98), 5150 (USD 99), and 5600 (USD 107) to 6400 (USD 123), 6500 (USD 124) and 6900 (USD 132) respectively. The measure is aimed at stabilizing prices on the grain market as well as supporting farmers. Farmers can sell grain to the state at a fixed price, which can thereafter be sold in the market at low subsidised prices.

Country: Russian Federation