The Ministry of Agriculture of the Russian Federation plans to begin grain interventions at the end of October
Quick Look
- Agriculture Minister Oksana Lut announced plans to launch grain interventions at the end of October.
- The department is selecting elevators to purchase 3 million tons of grain on behalf of President Vladimir Putin to stabilize prices on the market.
AI-generated summary
Why It Matters
The mechanism of purchasing and commodity interventions has been operating in Russia since 2001 to stabilize prices and support producers.
Russian Minister of Agriculture Oksana Lut announced the possibility of starting procurement interventions in the grain market at the end of October. She clarified that the budget for the procedures has been agreed upon, but it is necessary to choose a bank, Interfax reports.
Speaking with journalists on the sidelines of the Bioprom-2026 forum, the official said that the selection of elevators is currently ongoing.
It is necessary to recruit facilities for three million tons, but the owners have provided smaller areas. Therefore, at the next stage, a second competition will be announced, within the framework of which the ministry intends to obtain the necessary facilities. The order to carry out state purchases of grain was previously given by the country's President Vladimir Putin.
The intervention agent is the United Grain Company on behalf of the Ministry of Agriculture. The volume of the state fund is 3.7 million tons. The mechanism of procurement and commodity interventions itself has been operating in Russia since 2001. It is aimed at stabilizing market prices and supporting agricultural producers.
What to Watch
AI outlook — possibilities, not facts
Conducting the second competition for the selection of elevators
Very likely · Within weeks
Open Questions
- Which bank will be chosen to carry out the procedures?
- When exactly will the second competition for the selection of elevators begin?
