GRAIN PRICES
Meanwhile, the price of grain has fallen after a spike in 2007 and foreign investors still have to cope with the hurdles of Russia’s notorious bureaucracy.
And because of the lack of rural infrastructure — a major problem for the Russian agriculture industry — BEF is this year spending tens of millions of dollars on new silos to keep the grain harvests.
Such investment can only be welcome for Russia. President Dmitry Medvedev admitted last week that billions of dollars of investment were needed to expand storage facilities that currently hold only 30 percent of the harvest.
“Over the past 10 years we have understood that agriculture is not a black hole where money is lost and brings nothing for the state,” Medvedev said.
Also See: The ‘methane bomb’ Russia can’t admit to
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