Russian government sets aside 10bn roubles to support grain producers

The Russian government has reportedly set aside another 10bn roubles to support grain producers, as reported on Thursday, September 29.

The Russian government announced the 10bn rouble investment for supporting grain producers in a statement that read:

“Russian regions will receive an additional 10 billion roubles to partially reimburse expenses incurred by farmers in producing and selling grain crops. This order was signed by Prime Minister Mikhail Mishustin.”

“The money was allocated from the government reserve fund and will be sent to 64 regions. Regional authorities, in turn, will transfer the money to local agricultural companies.”

“As a result, farmers will be able to offset up to 50% of their costs for the production and sale of wheat, rye, barley and corn.”

“In 2022, 10 billion roubles from the federal budget was allocated to cover part of agrarians’ expenses on production and sale of crops.”

“The source of the additional funds was the government’s reserve fund. The question of their allocation was considered and approved at the Government meeting on September 29.”

“Commentary from the opening speech of Mikhail Mishustin at the Government meeting, September 29, 2022.”

“We expect that this decision will help the agro-industrial complex to continue to show impressive results, giving our citizens the opportunity to buy high-quality Russian food products,” said Mikhail Mishustin.

The news follows reports that Russian President Vladimir Putin has signed a decree that allows the Russian government to prohibit cargo transportation to companies from “unfriendly countries”, as reported on Thursday, September 29.

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