https://en.sputniknews.africa/20241206/development-of-brics-grain-exchanges-concept-to-begin-in-2025-says-russian-minister-1069579882.html
Development of BRICS Grain Exchange Concept to Begin in 2025, Says Russian Minister
Development of BRICS Grain Exchange Concept to Begin in 2025, Says Russian Minister
Sputnik Africa
In 2024, BRICS countries agreed on creating a common grain exchange, which would serve as a new trading platform for the world's largest producers and... 06.12.2024, Sputnik Africa
2024-12-06T14:17+0100
2024-12-06T14:17+0100
2024-12-06T15:55+0100
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Work on the creation of the concept of the BRICS grain exchange will begin in 2025, said Russian Minister of Agriculture Oksana Lut.Speaking at the Russian Chamber of Commerce and Industry, the minister added, "We sincerely hope that by 2025 we will have started the process of harmonization with all countries. It will be a long process".Minister Lut also appealed to the head of the Russian Chamber of Commerce and Industry Sergey Katyrin with a proposal to collect ideas of the business community on the concept of a grain exchange.Earlier this year, President Vladimir Putin supported an initiative to create a grain exchange within the BRICS framework. In October, during the expanded BRICS summit in Kazan, 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 association will help to create fair indicators of grain prices in the world.
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Development of BRICS Grain Exchange Concept to Begin in 2025, Says Russian Minister
14:17 06.12.2024 (Updated: 15:55 06.12.2024) Muhammad Nooh Osman
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In 2024, BRICS countries agreed on creating a common grain exchange, which would serve as a new trading platform for the world's largest producers and consumers. According to experts interviewed by Sputnik, this initiative could help depoliticize global markets and eliminate intermediaries in the form of Western exchanges.
Work on the creation of the concept of the
BRICS grain exchange will begin in 2025, said Russian Minister of Agriculture Oksana Lut.
"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," Lut said.
Speaking at the Russian Chamber of Commerce and Industry, the minister added, "We sincerely hope that by 2025 we will have started the process of
harmonization with all countries. It will be a long process".
Minister Lut also appealed to the head of the Russian Chamber of Commerce and Industry Sergey Katyrin with a proposal to collect ideas of the business community on the concept of a grain exchange.
Earlier this year, President Vladimir Putin supported an initiative to create a grain exchange within the BRICS framework. In October, during the expanded
BRICS summit in Kazan, 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 association will help to create fair indicators of grain prices in the world.
