Russian Federation Creates United Grain Company
31 March 2009 On March 20, 2009, Russian President Medvedev signed Decree #290, establishing a federal grain company, according to a US Department of Agriculture Foreign Agriculture Service Global Agriculture Information Network report. The main priorities of “United Grain Company” will be to increase purchasing and sales of grain on the domestic market; to increase grain exports; to modernize the industry; and to construct new elevators and port terminals.
United Grain Company will consist of the federal agency currently implementing state grain activities, the Open Joint Stock Society Agency for the Regulation of Food Markets, along with shares from 31 additional state entities, including Russian grain processing, handling and storing enterprises, and three major port elevators.
Medvedev gave the Russian Government nine months to develop the company’s strategy for 2009-2012 and 2013-2015.
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