IKAR in Mass and Industry Media

Russian State Grain Purchases Doubled Last Week as Prices Fell

Bloomberg

2009-02-24 By Maria Kolesnikova

Feb. 24 (Bloomberg) -- The Russian government almost doubled the amount of grain purchased last week as domestic prices fell.

The government bought 252,300 metric tons of grain from Feb. 16-20, compared with 128,400 tons a week earlier, the Agriculture Ministry said in an e-mailed statement today.

Russia spent 33.9 billion rubles ($943 million) since August buying 7.23 million tons of wheat, rye, barley and corn to support the nation’s farmers. Russia harvested 108.1 million tons of grain in 2008, its best crop since 1990.

Russia may harvest about 100 million tons of grain in 2009, Sovecon research agency said on its Web site today. Dmitry Rylko, director of the Institute of the Agriculture Market Studies known as IKAR, expects the harvest to total 90 million to 98.1 million tons.

01.02.10

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