Government to buy grain

The Russian government decided to execute purchase interventions on themarket of food wheat and rye, the Government Information Departmentreported to journalists. This decision was made at today's meeting devotedto stabilization of the Russian grain market held by Russian Prime MinisterMikhail Kasyanov. This measure is aimed at providing the forecasted levelof efficiency of grain production in Russia. The participants of themeeting pointed out that it is necessary to stabilize the grain marketwithin the corridor corresponding to fall seasonal parameters.Kasyanov assigned ministries and other authorities to elaborate onproposals of specific ways and mechanisms of the interventions, includingthe sources for financing the suggested purchases, and to introduce them tothe government in a week. As the Government Information Department pointedout, the government is to make a final decision on food interventions onSeptember 19, 2002, when the Cabinet will discuss the development of theRussian grain market in 2003-2007 and before 2010, in order to startpurchasing grain as early as at the beginning of October 2002..