Bloomberg News

Russia Drafts Price Targets to Sell Grains From Local Stockpiles

August 03, 2012

Russia will sell wheat from stockpiles if prices climb to certain pre-set targets in parts of the country, according to a draft of an order proposed by the Agriculture Ministry.

The targets are meant to keep grain prices stable, according to the ministry’s draft published on its website today. The trigger for third-grade milling wheat, used to make wheat, will be 5,000 rubles ($155) to 7,500 rubles a metric ton, depending on the area of the country, it said. Last week, third- grade milling wheat sold at 8,200 rubles to 8,700 rubles a ton across the country, according to Grain Producers’ Union data. For fourth-grade milling wheat, the target will be 5,300 rubles to 7,150 rubles, it said.

The pre-set selling level will be 4,550 rubles to 6,000 rubles a ton for feed wheat, 4,300 rubles a ton for milling rye, and 4,550 rubles a ton for feed barley, according to the draft.

Editors: Claudia Carpenter, John Deane

To contact the reporter on this story: Marina Sysoyeva in Moscow at msysoyeva@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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