Dmitry Patrushev: BRICS Grain Exchange can make a significant contribution to global food security
Deputy Prime Minister Dmitry Patrushev chaired a meeting on the establishment of an exchange for agricultural products trading at the BRICS level. Heads of relevant agencies, as well as market players involved in grain production and sales, discussed the progress of work in this area.
“Last year, the President of Russia instructed to explore the issue of setting up a BRICS grain exchange. The member countries account for almost half of global grain production and consumption. Accordingly, the trading platform will allow the BRICS countries to form independent price indicators within the association, which will contribute to a more unbiased assessment of the agricultural products’ value on the world market. The establishment of a grain exchange will strengthen global food security. In 2024, Russia’s initiative was supported both during the BRICS agriculture ministers’ negotiations and at the level of the BRICS leaders,” said Dmitry Patrushev.
The meeting considered various options for setting up and operating the exchange and mechanisms for cooperation with all stakeholders – both trading platforms and grain producers and exporters.
An interdepartmental working group
under the auspices of the Russian Ministry of Economic Development will prepare
specific proposals on establishing the grain exchange.
