Putin discusses situation on grain market

Russian President Vladimir Putin and Agriculture Minister Alexey Gordeyev have discussed the situation on the Russian grain market today. At their meeting in the Kremlin Gordeyev pointed out that recent interventions on the grain market "has played a considerable positive role". On the whole some 2m tons of grain totaling 3.4bn rubles ($107m) have been purchased. The minister said that "the government is planning to continue grain interventions until the grain price reaches the level set by the government's decree".

Gordeyev stressed that the dynamics of growth in grain exports was increasing. Grain exports this year have exceeded the 2001 results by 2.5 times. In the period from July 2, 2002 to January 1, 2003 Russia is expected to export 9.5m tons of grain totaling $1bn, the minister specified.