Grain interventions started on August 19, 2024 and continued until December 27. As part of these events, 115.425 thousand tons of grain crops worth 1.769 billion rubles were sold from the fund. At the moment, about 4 million tons of grain crops are stored in the fund, most of the reserves are wheat.
Photo: ru.freepik.com
The Federal Intervention Fund for Agricultural Products is created in the process of conducting procurement interventions. The system of selling grain crops from state reserves and buying grain crops has been operating in Russia since 2001.
The goal is to ensure the sustainability of grain prices in the market and to help agricultural producers. When the cost of products jumps, the government sells stocks from the state fund, thereby blocking further price increases, and when they decrease, it removes excess volumes from the market in order to stabilize prices.
We recently told you that grain exports from Russia to Europe have come to naught after the increase in EU duties.
