Volga Baikal AGRO NEWS Update on the RF Intervention Fund !!!
This year Russia plans to purchase 1 million tons of wheat for the intervention fund !!!
90 thousand tons of sugar can also be purchased.
In 2022, the Ministry of Agriculture plans to purchase 1 million tons of wheat and 90 thousand tons of sugar for the intervention fund. Until 2024, it is planned to purchase up to 3 million tons of wheat and 250 thousand tons of sugar. This was told by the director of the United Grain Company Dmitry Sergeev during a conversation with President Vladimir Putin.
The intervention fund is not only about the country’s food security, Sergeev stressed, it also helps producers and processors during drought and crop failure: government interventions are used to stabilize prices. “It is also used for humanitarian purposes, supports the elevator infrastructure and carries out social functions,” he said.
Sergeev clarified that when the intervention fund has 3 million tons of wheat, about a hundred grain elevators in 24 regions will be involved in its storage, which will provide jobs for about 10 thousand people, while 1.5 thousand are currently working. was in 2010, and then 456 elevators and 35 thousand employees were involved,” – added Sergeev.
The Ministry of Agriculture approved the minimum and maximum prices, upon reaching which, in 2022-2023, procurement and commodity interventions in the grain and sugar markets can be carried out. Both price groups are calculated with VAT, are the same for all regions and will be valid from July 31, 2022 to June 30, 2023.
wheat of the 3rd class — 15.84 thousand rubles /tonne
wheat of the 4th class — 15.07 thousand rubles /tonne
rye not lower than the 3rd class — 11.11 thousand rubles /tonne
barley — 12.98 thousand rubles /tonne
sugar — 36.96 thousand rubles /tonne
Realization prices from the intervention fund:
wheat of the 3rd class — 17.38 thousand rubles /tonne
wheat of the 4th class — 16.61 thousand rubles /tonne
rye not lower than the 3rd class — 12.21 thousand rubles /tonne
barley — 14.3 thousand rubles /tonne
sugar — 40.7 thousand rubles /tonne
The United Grain Company pays great attention to foreign trade activities: in 2021, exports amounted to almost 3 million tons, Sergeyev told the president. According to him, the company seeks to completely get rid of the intermediation of international traders and work directly with importing countries, and is also actively switching to settlements in national currency with partners from friendly countries. To further increase exports, the company is implementing a major investment program: it is increasing the transshipment capacity of the Novorossiysk Grain Plant to 11.6 million tons per year.
Now at the United Grain Company nine elevators with a total storage capacity of 700 thousand tons, three processing enterprises with a total processing capacity of 500 thousand tons, two port terminals with a total capacity of 8 million tons and about 1.5 thousand hopper cars. The company’s revenue for 2021 amounted to 104.6 million rubles. – 62% more than in 2020. Net profit doubled to 4.6 billion rubles.