Source Pravda.Ru

Gov't needs $206m to stabilize grain prices

The government will need from RUR6bn to RUR7bn (about $206m) to carry outinterventions on the grain market, Russian Agriculture Minister AlexeyGordeyev told journalists following a meeting with Prime Minister MikhailKasyanov today. They discussed measures aimed at stabilizing Russia's grainmarket and decided on interventions in wheat and rye trading. Gordeyev alsosaid that the minimal procurement price of grain of the 3rd class would beRUR2,300 ($72.85) per ton. The interventions are expected to begin in earlyOctober. According to Gordeyev, the government will give its final say onthis matter at a meeting on September 19..

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