Russia plans to buy 1.4 million to 1.5 million metric tons of grain for state stockpiles, First Deputy Prime Minister Viktor Zubkov said.
Zubkov made the announcement today at a government meeting in Moscow. Prime Minister Vladimir Putin said he signed an order authorizing purchases for the so-called grain intervention fund. The order allows farmers to buy grain back from state reserves if they wish to sell their crops for a higher price on the market.
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