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Russia to start buying grain for state stockpile in August - agriculture ministry

July 19 (Reuters) - The Russian government will start buying grain for the state’s reserve fund next month, the agriculture ministry said on Tuesday.

The ministry said it would plan to buy around 1 million tonnes of grain from Russian producers this year, starting in August.

The state’s grain reserve fund is designed to help smooth prices in the domestic market, allowing the government to cool the market by offloading supplies should prices rise too fast.

Reporting by Reuters

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