Patrushev noted the importance of the BRICS grain exchange for food security

On June 3, Dmitry Patrushev, Deputy Prime Minister of the Russian Federation, held a meeting on the creation and operation of the BRICS grain exchange, during which he discussed the work in this area with the heads of relevant departments and with market participants who produce and sell grain.

"Last week, a 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, help reduce dependence on Western trading platforms, and also create the necessary infrastructure to improve the efficiency of the grain market," Patrushev said.

The Deputy Prime Minister noted that within the framework of the BRICS, the necessary prerequisites will be created for the formation of independent price indicators. According to him, this step will contribute to a more objective assessment of the value of agricultural products on the world market. The Ministry of Economic Development of Russia, in turn, presented proposals on a model for the creation and operation of the exchange.

It is reported that following the meeting, it was decided to prepare a plan for substantive negotiations with the BRICS member countries on the implementation of the project.

Getting Food: BRICS prepares to establish an agricultural alliance

Why an agricultural union is needed and which countries have already shown interest in the initiative

On April 17, it became known that at a meeting of the ministers of agriculture of the BRICS countries in Brazil, representatives of the association supported Russia's idea of creating a grain exchange. The Ministry of Agriculture noted that Russia is ready to contribute to the development of agriculture in order to achieve global food security.