05 August, 2005

Russia: Russian government to control grain prices – Vladimir Putin

The President of Russian Federation Vladimir Putin announced that the government should take measures for stabilization of prices on the grain market, according to APK-Inform. He confirmed that Russia expected 75 to 78 million tonnes of grain this season. This will be a good crop, so the government should control the market to protect domestic producers as well as consumers.

The Minister of Economic Development German Gref affirmed that the grain crop in Russia was expected now better than before. Over 22 million tones of grain has been already harvested. According to the Minister, grain prices have declined 10-13 percent for the last two months. The government has planned interventions to keep grain prices under control in autumn.

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