Grain futures trading may start in 2017

December 1, 2016 TASS
Combine harvesters work on a wheat field
Combine harvesters work on a wheat field of the Solgonskoye farming company near the village of Talniki, southwest from Siberian city of Krasnoyarsk. Source: Reuters

Trading in grain futures may be launched in Russia in 2017, Department Director with the Bank of Russia Larisa Selyutina said on Dec. 1.

"Proactive work is underway. As soon as they [companies] are ready, we will start the similar process for grain, hopefully in the next year," the expert said. "These may be deliverable [instruments]; we may probably start from the spot market," she said.

This project is currently reviewed by the National Mercantile Exchange [affiliated with Moscow Exchange - TASS], Selyutina added.

Russia’s 2017 grain harvest may remain at the level of this year of 113-116 million tons, Agriculture Minister Alexander Tkachev said earlier on the sidelines of the International Investment Forum Sochi-2016.

Source: TASS

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