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Crop Financing Coming

Agriculture Ministry representatives will meet with bankers Friday to lobby for favorable loan terms for grain producers, said Pavel Skurikhin, president of the Grain Producers’ Union.

The government will provide farms with 35 billion rubles ($1.2 billion) in subsidies to help start sowing, Agriculture Minister Yelena Skrynnik said at a government meeting Wednesday.

The union sees the harvest reaching 80 million to 85 million tons, if all the 30 million hectares planned for spring seeding are sown. The government’s latest target is a harvest of 85 million to 87 million tons, Skurikhin said Wednesday.

(Bloomberg)


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