MOSCOW, RUSSIA — Russia's agriculture ministry sold 132,648 tonnes of grain, mainly wheat, from the state stockpile for 1.6 billion roubles ($22 million) in an auction on April 14, Reuters reported.
In its first auction on April 13, it sold 121,416 tonnes of grain, the report said.
The ministry said it plans to sell up to 1.5 million tonnes of grain — 83% of its state stockpile — into the domestic market to increase supply for flour millers and bakers amid the coronavirus 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 on March 31, when the measures were first announced.
Last week Russia agreed to limit grain exports to 7 million tonnes from April to June to conserve supplies for the domestic market during the coronavirus outbreak.
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