Russian grain interventions could be 4.9 mln tonnes in 2012-2013

Grain interventions in Russia could run to 4.9 million tonnes in the 2012-2013 agricultural year, say materials for a meeting on the grain market situation chaired by Deputy Prime Minister Arkady Dvorkovich on Friday.

The materials were submitted to the government for signature by Deputy Economic Development Minister Andrei Klepach.

The interventions should begin when the harvest is in - not before September in regions with a grain shortage. Most of the intervention grain should be preserved until February or March, when there is a risk that grain prices and demand will spike. The materials do no contain any proposals to restrict exports." No export restrictions are being planned, we consider this to be a harmful and inadvisable measure," Dvorkovich said.

He also told reporters after the meeting that the interventions might begin this year. "Interventions might be carried out this year is prices rise considerably. The paperwork needed for this is ready," he said.

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