🇷🇺🌍 The development of the concept of the BRICS grain exchange to begin in 2025, says Russian agriculture minister
🗣 « We will start this work from 2025 under the leadership of the Deputy Head of the Presidential Administration Maxim Oreshkin, together with the Ministry of Economic Development. Our part is commodity-based. We will begin to develop a concept, » Minister Oksana Lut said at the Russian Chamber of Commerce and Industry.
She added, « We sincerely hope that by 2025 we will have started the process of harmonization with all countries. It will be a long process ».
The minister also appealed to the chamber with a proposal to collect ideas of the business community on the concept of a grain exchange.
In October, during the BRICS summit in Kazan, the group’s member countries agreed on creating a common grain exchange, which would serve as a new trading platform for the world’s largest producers and consumers.
During the summit, Vladimir Putin said that several BRICS countries are world leaders in terms of the volume of grain, pulses and oilseeds produced – therefore, the opening of a grain exchange of the group will help to create fair indicators of global grain prices.