ANNOUNCEMENT 26 Mar 2014
In March 2014, the Russian agriculture ministry set minimum state purchase prices for grains, valid in 2014-15.
NUMBER OF INTERVENTIONS
Ministry of Agriculture of Russia. Order N94 dated 26-03-2014, Об определении предельных уровней минимальных цен на зерно урожая 2014 года при проведении государственных закупочных интервенций в 2014-2015 годах (On the determination of the limit levels of the minimum prices for grain in the crop of 2014 during government procurement interventions in 2014-2015), https://rg.ru/2014/04/24/zerno-dok.html
On 26 March 2014, the Russian agriculture ministry set the minimum purchase prices for grains, valid between July 2014 and July 2015. When market prices fell below the minimum prices, the government undertakes an obligation to centrally procure listed goods.
The Russian federal law "On Development of Agriculture (№264, 2006) allows price interventions with regard to wheat, barley, rye, corn and other products listed by the Government. To trigger such interventions, the Russian agriculture ministry has to publish and order and monitor prices.
The VAT-inclusive per-tonne prices, depending on the federal district, are set as follows:
The increase in minimum prices makes government intervention, and subsequently, trade distortion, more likely. Hence, this intervention is coded "red".
The Order of the ministry is in force between 1 July 2014 and 30 June 2015.