1 february 2013

Deputy Prime Minister Arkady Dvorkovich holds a meeting on state commodity intervention and improving its mechanism on the grain market

Participants:

Deputy Prime Minister Arkady Dvorkovich stated that since the launch of state commodity intervention from the state intervention fund, over 1.5 million tonnes of grain worth over 13 billion roubles have been sold on the stock exchange. The stock exchange presently operates on the basis of grain supplies from the Siberian, Urals, and Far Eastern federal districts. However, plans have been made to expand the grain supply base and the range of exchange trade participants in the near future.

At the meeting, the Ministry of Economic Development proposed to abolish the import customs duties on wheat, rye, barley, and corn until August 1, 2013. Mr Dvorkovich issued instructions to work on the matter and to develop and agree upon appropriate solutions.