OREANDA-NEWS. September 21, 2010. The Federal Antimonopoly Service (FAS Russia) held a scheduled meeting on organization of exchange trade with grain, reported the press-centre of FAS Russia.

FAS Russia holds meetings on organization of exchange trade with grain following the Order of the Russian Prime-Minister Vladimir Putin on development grain exchanges in the Russian Federation.

The main issue on the agenda was simulating agricultural producers, including subsidizing, to attract them to exchange trade with grain. It was proposed to introduce subsidies to cover deposit margin of agricultural producers and subsidize the costs of production of the grain sold through exchanges.

Participants also discussed possibility of “OZK” OJSC entering the exchange market as a market-maker.

To execute the instructions of the First Deputy Prime-Minister of the Russian Federal Viktor Zubkov on development gain exchanges in Russia, FAS jointly with the Federal Financial Markets Service formed an Inter-branch Working Group on exchange trade with grain and define priority tasks for the WG.

Further discussions will take place within the Inter-branch Working Group of FAS Russia and the Federal Financial Markets Service, which will help developing the main measures and approaches to organization of exchange trade with grain in the shortest possible time.

The Working Group will meet weekly; the first meeting is scheduled at 1.30 p.m. on 17th September.

Reference:

The Working Group includes representatives of the Central Office of the Government of the Russian Federation, the Ministry of Economic Development, the Ministry of Finance, the Ministry of Agriculture, the Federal Financial Markets Service, the Federal Tax Service as well as the Russian Exchange Union, the Russian Grain Union, the National Union of Grain Producers, “United Grain Company” OJSC, MICEX” CJSC, “National Commodities Exchange” CJSC, “RTS – Russian Trading System Stock Exchange” OJSC, “Moscow Stock Exchange” OJSC, “SPIMEX – St Petersburg International Mercantile Exchange” CJSC, “St Petersburg Exchange” CJSC, “Interregional Exchange in Oil-and Gas Complex“ Non-Commercial Partnership, “Rosselkhozbank” OJSC and the “Savings Bank of Russia” OJSC.