Russia To Sell Half Of Grain Stockpile Amid Coronavirus
Russia will sell 1 million tonnes of grain from its state stockpile on the domestic market to ensure supplies and keep prices down amid the coronavirus pandemic, the agriculture ministry said on Tuesday.
The ministry, which has 1.8 million tonnes of grain in the stockpile, mostly in Siberia, said last week it was preparing to tap into it. It has also proposed limiting Russian grain exports in April-June because of the virus outbreak.
"These measures will guarantee the necessary amount of grain for food and feed purposes, reduce grain prices and prevent a spike in consumer prices for food products," agriculture minister Dmitry Patrushev said in a statement.
In general, the supply situation of socially important products and prices is not a cause for concern, he added.
The government has yet to approve the agriculture ministry's proposal to limit Russian grain exports to 7 million tonnes from April through June, but the economy ministry said on Monday it backed the idea.