OREANDA-NEWS. March 28, 2011. To prevent unreasonable growth of prices for the services of grain storage and shipment, the Federal Antimonopoly Service (FAS Russia) has instructed its regional offices to carry out inspections to verify whether grain elevators comply with the antimonopoly law, reported the press-centre of FAS Russia.

Inspections are initiated upon receiving numerous petitions from economic entities about grain elevators fixing prices for storage and shipment of grain from the intervention fund above the market price.

Due to considerable losses of grain harvest in 2010 caused by draught, the Government of the Russian Federation places special emphasis on price stability on domestic grain market. One of the current measures aimed at achieving this goal is selling grain form the intervention fund.

“Abusing market dominance by grain elevators can ultimately make raw materials more expensive and cause unreasonable increase of prices for bread and bakery products. Therefore, FAS Russia will take all necessary measures of antimonopoly control to prevent developing situation in this direction”, said the Head of FAS Russia’s Department for Control over Chemical Industry and Agro-Industrial Complex, Teimuraz Kharitonashvili.