The State Agency for Material Resources under the Ministry of Emergency Situations (MES) has increased the procurement price of high quality wheat from AZN 270 (USD 165) per tonne to AZN 280 (USD 171) per tonne. The Government had already raised it on 1 September from AZN 250 (USD 152) per tonne (set in late June and the same as in 2015) to AZN 270 per tonne, and at the same time extended the term of procurement from 1 September to 1 November 2016. The state-procured wheat goes to build up stocks of the State Grain Fund, whose main objective is to provide consumers with grain products in emergency situations, or, if necessary, release onto the market to prevent a sharp rise in prices in the domestic market.