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Russia expects this year to harvest 73–76 million tons of grain, which will enable the country to fulfil its own consumption needs and also export grain and build up its reserves, Agriculture Minister Alexei Gordeyev informed President Vladimir Putin

May 12, 2004

Mr Gordeyev also told the President that the government had acted on the instruction given to bring down prices on the grain market.

Grain prices in Russia were stabilised in February and then underwent a weekly drop of one-and-a-half percent. Prices for grain and flour are continuing to fall. Mr Gordeyev said that the regulating role played by the state has had a positive impact.

May 12, 2004