Grain will be released from the state intervention fund for upcoming commodity operations for flour mills in the Central and Volga Federal Districts. This was reported by the "Interfax" news agency, citing the National Commodity Exchange (NCE).
Starting from August 13, the Exchange is preparing for the implementation of state commodity operations for participants in the flour milling category. They are intended for groups of participants from the Central and Volga Federal Districts.
Also preparing for the auctions is the United Grain Company, a state agent for the distribution of grain from the state intervention fund.
According to the government's decision, in 2024, the sale of up to 500 thousand tons of grain from the federal intervention fund is allowed. The purchased wheat will be sold at exchange auctions in the domestic market at prices not lower than the minimum selling price and not lower than the procurement price set by the government.
The federal intervention fund for agricultural products is formed by purchasing products when their prices decrease. This allows removing surpluses from the market and supporting producers. The sale of grain from the intervention fund is carried out when prices rise, helping to maintain market stability.
The last grain trading operations were carried out with breaks in 2020-2021. In February 2022, the Ministry of Agriculture announced their completion and started preparations for new operations to support flour producers in the conditions of an unstable economic situation.
The Ministry of Agriculture has set minimum prices for the sale of grain from the state fund for the agricultural year 2024/2025. For example, the price of 3rd class wheat is 17,160 rubles with VAT and 15,600 rubles without VAT. The price for 4th class wheat is 16,610 rubles and 15,100 rubles, respectively, while for rye – 12,540 rubles and 11,400 rubles per ton.
Currently, the intervention 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. The completion of purchases has not been officially announced.
Deputy Prime Minister Dmitry Patrushev previously stated that the optimal volume of the state fund should be 3-5 million tons.
According to Rosstat data, from the beginning of the year until August 5, consumer prices for wheat flour have increased by 3.1%, and for bakery products by 7.1%.