Russia: grain intervention continues, no price lift

11-02-2009 | |

According to Russian First Deputy Prime Minister Viktor Zubkov, the country will keep buying grain to its intervention stocks despite dwindling purchases. But prices will not be raised.

"The prices are fair. And we don’t have more money to raise them again anyway", Zubkov said. The government bought 26,865 tonnes of grain on Tuesday, nearly twice as much as on Monday, but significantly less than at some previous auctions where it was buying several times more grain per day.

A Zubkov spokeswoman said rising domestic milling grain market prices had made government tenders less attractive, but the government was ready to proceed with interventions even if it was only able to buy feed grain, reported Reuters.

Emmy Koeleman Freelance editor
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