Translation. Region: Russian Federal
Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.
Deputy Prime Minister Dmitry Patrushev held a meeting dedicated to the creation and operation of the BRICS grain exchange. Heads of relevant departments, as well as market participants engaged in the production and sale of grain crops, discussed the progress of work in this area.
“Last week, the IV All-Russian Grain Forum was held in Sochi, where together with Russian producers and foreign colleagues we discussed strengthening food security and measures to increase Russian grain exports. The creation of the BRICS grain exchange will make a significant contribution to achieving these goals, will help reduce dependence on Western trading platforms, and will also allow the formation of the necessary infrastructure to improve the efficiency of the grain market,” said Dmitry Patrushev.
The Deputy Prime Minister emphasized that the necessary preconditions will be created for the formation of independent price indicators within the framework of the association. Together, this will contribute to a more objective assessment of the cost of agricultural products on the world market.
The Ministry of Economic Development presented proposals on the model for the creation and operation of the exchange. Following the meeting, a decision was made to prepare a plan for substantive negotiations with BRICS member countries on the further implementation of the project.
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