ARussian Prime Minister Dmitry Medvedev has decided to start interventions at the grain market and order the Ministry for Agriculture to introduce proposals on the volumes and regions for the initiative, RIA Novosti reports.
Medvedev ordered Vice Premier Arkady Dvorkovich to prepare a report on grain interventions.
The Ministry for Agriculture says that 500,000 tons of grain, most likely class-3 grain, need realization before the end of the year. The ministry plans grain realization at the Siberian, Ural and Far East Federal Districts.
7,500 rubles is the starting price proposed by the ministry to stabilize the domestic market and prevent exports of grain. The final price will be determined by market trade.
