DJ Russia To Buy 1.4 Mln-1.5 Mln Tons Intervention Grain 14.11.2011
MOSCOW (Dow Jones)--Russia will make intervention grain purchases of around 1.4 million-1.5 million metric tons in the current marketing year, the government press service reported Monday.
Prime Minister Vladimir Putin signed Monday an order detailing the purchases and the press service reported that the figure of 1.4 million-1.5 million tons was voiced at a government meeting Monday by Deputy Prime Minister Viktor Zubkov.
The grain will be purchased from farmers who will have an option to buy it back should market conditions require it. Farmers who buy their grain back from the government will have to pay for the storage and transportation, but it will be "a small amount of money," Zubkov said