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According to the data of the National Commodity Exchange (NCE), the start of grain sales from the Russian State Intervention Fund (commodity interventions) is scheduled for August 19, as reported by Interfax. We offer 35.1 thousand tons of 3rd-grade wheat from the 2022 and 2023 harvests for trading. All this grain volume is intended for flour mills in the Central and Volga Federal Districts.
According to the summary of auctions published on the official website of the NCE, 260 lots of wheat will be put up for auction, each weighing 135 tons. This grain, purchased during procurement interventions, will be intended for sale on the domestic market at prices not lower than the minimum price and procurement price. The sale of grain from the intervention fund started in 2014 and will continue until 2024.
The Federal Intervention Fund for agricultural products is formed from procurement interventions. When prices for agricultural products decrease, the state purchases them for the intervention fund. This helps to remove excess production from the market and support agricultural producers. The sale of grain from the intervention fund occurs when market prices are rising, contributing to market stability.
Previous commodity interventions took place in the Russian grain market with some breaks in 2020-2021 and were announced as completed by the Ministry of Agriculture in February 2022. After that, the state began preparations for new interventions to support flour producers in an unstable economic situation.
It should be noted that the minimum prices for the sale of grain from the state fund have already been set by the Ministry of Agriculture. Prices for 3rd-grade wheat are 17,160 rubles per ton including VAT and 15,600 rubles excluding VAT. Prices for 4th-grade wheat are set at 16,610 rubles and 15,100 rubles respectively, and for rye - 12,540 rubles and 11,400 rubles per ton.
At the moment, the fund holds over 4 million tons of grain, the majority of which is wheat. This volume was purchased in several stages from August 1 to December 30, 2022, and from December 11, 2023, to July 15, 2024. An official statement on the completion of procurement interventions has not been made yet.
