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Russia Plans to Sell 75,000 Tons of Grain in 1Q
USAgNet - 01/19/2021

Russia plans to sell about 75,000 tonnes of grain to the domestic market from the state stockpile between January and March, state trader United Grain Company, which manages its sales, said on Thursday.

According to Reuters, a branch of the Moscow Exchange, which is also in charge of the sales, said they would begin on Jan. 20.

Russia, one of the world's largest wheat exporters, almost depleted its state grain inventories through sales to the domestic market during the COVID-19 outbreak in 2020.

There are currently about 200,000 tonnes of grain in the stockpile, according to Interfax news agency.

Russian officials are now trying to curb domestic food price growth with a grain export quota, a wheat export tax and a list of other measures.

The agriculture ministry said last year it would start building up its new state grain stockpile, focused on demand from flour millers, to about 2.5 to 3.5 million tonnes in the next marketing season which starts on July 1, 2021.

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