Vladimir Putin: Good afternoon, Mr Gordeyev.

Alexei Gordeyev: Mr Putin, you have asked me to give you an account of the interventions in the grain market - that is, purchases for the Government fund. Here we must be exact, just like in a pharmacy.

We have now bought 6,610,000 tonnes of grain for more than 31 billion roubles. We have accredited a record 1,662 agricultural producers. A total of 392 elevators will store this grain.

I would like to note that the Government's intervention purchases played a positive role. Prices, particularly on food wheat, have been stabilised, and are becoming economically fair for agriculture.

At the same time, we continue to purchase fodder grain. Prices on it are still low. We had storage problems in some regions and transferred 250,000 tonnes of extra grain from the black soil zone to the Northwest and the Urals. The Government fully controls this process.

On February 10, Mr Zubkov will conduct a teleconference with the regions to discuss everything in detail.

Vladimir Putin: How many reserves will we have? We were discussing the possibility of increasing state reserves.

Alexei Gordeyev: Mr Putin, we can buy a large amount of grain with the appropriated funds, up to 18-20 million tonnes, but our main task is stabilising prices in the grain market. Therefore, we continue to purchase grain, and we'll report to you as soon as the prices approach the Government-fixed corridor.

Speaking about our forecast for the total reserves, we expect to have stocked 26-28 million tonnes of grain by July 1, which is 2.5 times more than is required under the current regulations. This is why we feel quite confident.

We are launching a spring sowing campaign. In line with your instructions, we have set up an interdepartmental headquarters to include all ministries concerned. Its first session in Maikop in the South Federal District was attended by all regional heads of the agro-industrial complex. We conducted a national conference with federal agronomical services. Experts took part in it and gave all the required recommendations. We are preparing a meeting of the Government on this subject, scheduled for March 5. We have big plans - to lay down more than 61 million hectares for crops. I'm hoping that all questions pertaining to fuel and lubricants, fertilizer, seeds, and equipment will be resolved by that time. We are keeping an eye on the position of agricultural producers.

Vladimir Putin: We have allotted additional funds to Rosselkhozbank and Agroleasing - have they arrived?

Alexei Gordeyev: The Government has made a decision to this effect and endorsed normative regulations. We are expecting these funds any minute. We have done all that was necessary, so there will be no delays. Thank you. This question is resolved.

Vladimir Putin: Good.