26 August 2011, Friday, 10:20

The Republican reserve grain fund to be set up in Bashkortostan

author: news agency "Bashinform"

The President of Bashkortostan Rustem Khamitov made the decision to establish the Republican reserve grain fund with the purpose to support local agrarians during the price-cutting period in the grain market. For that it is planned to allocate 1,5 billion rubles of borrowings under the guarantees of the budget RB.

The public affairs service of the President RB reports about 530 thousand tons of grain will be accumulated in the fund. The grain will be purchased from the Republican agrarians according to the deposit scheme. Thereby the Republic will set up the reserve fund of food and fodder grain. Agrarians may sell wheat, rye and barley to the Fund. The coordination on formation of the grain fund is imposed on the Ministry of agriculture RB.

“Good grain harvest-2011 turned out to be the problem – the prices started falling” – Rustem Khamitov said – “We mustn’t sell our grain for such price. The Republican reserve grain fund should become an efficient mechanism for backing of the grain-growers. The purchases of grain within the period of completion of the autumn field works will become a solid support for the villagers, facing difficulties with finances. The means, obtained in the course of the grain sales, will be spent for acquisition of fuel, repair of agricultural machinery, salary payments and other needs”.