AreaRussia

Commodity GroupGrains

CommodityWheat

Date01/12/2014

Policy CategoryConsumption and marketing

Policy InstrumentGovernment procurement

DescriptionRaised the state purchase intervention prices for 2014 wheat crop by approximately 50 percent. New prices for wheat are around RUB 10 000 for 3d category wheat, around 9200 for 4th category wheat and RUB 9 000 for 5th category.

NotesSales of wheat to the State Intervention Fund ceased in mid-November, when the market price of wheat in the Russian Federation increased sharply and surpassed the intervention prices by 70–90 percent. The first intervention purchases of wheat at new prices were scheduled for 23 and 24 December 2014.