ANNOUNCEMENT 20 Feb 2010In February 2010, the government of Russia announced a change in financial export support.
NUMBER OF INTERVENTIONS
The Government decree from 20 February 2010 # 68. Available from < http://government.ru/gov/results/9481/>
The Government decree from 20 February 2010 # 68 provides an export subsidy of 5 billion roubles ($163.7 million) to the United Grain Company (UGC).
This will allow the government to sell about 2.5 to 3 million tonnes of excess grain via the UGC state-run trader. The government has halted grain intervention purchases because of strong demand from private sector buyers. It has purchased 1,775,250 tonnes of wheat thus far in 2009-10.
The subsidy covers the difference between the prices UGC paid for the wheat at the end of 2008 and 2009. The U.S. wheat futures
According to the UN Comtrade database, in the year prior to the measure no country imported goods classified under HS code 1007 from Russia with a trade value over the GTA threshold of USD 1 million.