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24 August, Thursday

Ufa   °

Bashkiria plans to sell more than 185 thousand tons of grain to state intervention fund

Business

UFA, 24 August 2016. /Bashinform News Agency, Galina Bakhshieva/.

Bashkortostan farmers plan to sell more than 185,000 tons of grain to the state intervention fund. According to the press service of the Ministry of Agriculture RB, 29 farms of 15 regions intend to participate in the grain interventions this year.

State interventions on purchase and sale of grain are held in Russia since 2001 to stabilize domestic grain prices. In case of high yield purchasing interventions allow to remove the excess from the market and to stimulate the growth of prices, which allows farmers to avoid losses. Commodity interventions are designed to lower prices in the lean years with the help of interventions in the grain market from the state fund.

The United Grain Company State is an agent for the interventions since 2009.

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