OREANDA-NEWS. August 13, 2010. Abnormal heat and drought have deprived Russia of 25% of grain seeds, the Russian president, Dmitry Medvedev said at a meeting dedicated to the stabilization of the situation on the domestic grain market. “We have lost about 25% of grain seeds. Unfortunately, many farm enterprises are on the verge of bankruptcy because of this”, Medvedev said.

“The government is aware of the situation, and is in control”. He recalled that a decision had already been made to provide financial assistance to farming companies had found themselves in a critical situation, worth RUB 35 mn. In addition, enterprises should get aid from neighboring regions. “Inter-regional cooperation is essential in this case.

Of course, we must exercise strict control over the allotted funds”, Medvedev said. Speaking about grain interventions, he noted that the size of the intervention fund totaled 10 mn tons at the moment, which were intended to be used as a security cushion. “There are regions where interventions are to be held in the first run. These are the 27 regions that have been damaged to the greatest extent”, Medvedev said.