News

24 June 2019, 16:22

Business

Society

LPR begins wheat and barley harvesting

Read in Russian

LUGANSK, June 24 (Lugansk Media Centre) – The Krasnodon and Sverdlovsk are the first LPR districts to begin harvesting, the Minister of Agriculture and Food Yuriy Pronko said.

“LPR embarked on harvesting yesterday. The first to harvest were Krasnodon and Sverdlovsk farms growing winter wheat and barley.”

Pronko said that the crops yields this year were much higher compared to 2018.

The quality of wheat harvested was awarded class 3.

Lutugino elevator of the Agrofond company, according to Pronko, was being prepared to process 20 thousand tons of food-quality wheat.

“We managed to keep prices at the same level as in 2018 to provide minimum safety food stock.”

LPR state food enterprise Agrarnyi Fond has signed 14 forward agreements to purchase 7,7 thousand tones of class 3 winter wheat, the Minsitry of Agriculture reported.

A forward contract is a contract to buy or to sell an asset at a specified future time at a price agreed upon today. The LPR decided to implement forward purchase to support farmers with float fund at a financially challenging period of crops planting.

LuganskMediaCentre — 24 June — Lugansk