Wednesday, August 27th, 2025
Home »Agriculture and Allied » World » Russia buys 1.65 million tonnes grain

  • News Desk
  • Dec 29th, 2005
  • Comments Off on Russia buys 1.65 million tonnes grain
The Russian government has bought 1,649,570 tonnes of grain in 35 days of intervention tenders to prop up prices, including 810 tonnes of wheat on Wednesday, the last trading day this year, the National Mercantile Exchange said.

The exchange, which is in charge of the tenders, said 5 billion roubles ($174 million) had been spent so far out of the 6.2 billion allocated for the purchases.

The government bought soft third class wheat on Wednesday at a price of 3,290 roubles per tonne. It bought no fourth class wheat and no rye.

Top price for third class wheat originating from the European part of Russia has been set at 3,100 roubles a tonne, and that from Siberia and the Urals at 3,300 roubles.

Lower grade fourth class wheat, expected to constitute the bulk of Russia's wheat crop, has been priced at 2,450 roubles per tonne for European Russia and at 2,600 roubles for Siberia and the Urals.

The top price for milling rye has been set at 2,500 roubles per tonne regardless of origin.

The tenders have been held twice a week this year, on Tuesdays and Wednesdays. No date has been set for the next session yet. Russia has market holidays from the start of 2006 to January 10.

Copyright Reuters, 2005


the author

Top
Close
Close