Putin approved the creation of the BRICS grain exchange
[ad_1]
The President spoke with farmers about speculators and pricing
Vladimir Putin supported the initiative to create a grain exchange within the BRICS framework. According to the head of state, stock market speculation affects prices, and this affects consumers. Your own trading platform will allow you to get away from such injustice. The president announced this at a meeting with representatives of the agro-industrial complex in the Stavropol Territory.
“All these stock indices are formed either in the States or in Europe, in Paris for example. I don’t know how much grain the French produce? I think less than us. And according to tradition, a stock index is formed there. Of course, this is unfair, because it affects pricing,” Putin said.
The head of state noted that since BRICS has countries that produce and buy grains, they may be interested in such a trading platform.
“Moreover, these things are of a speculative nature; they, of course, ultimately affect consumers. And this is a problem. And all governments are trying to solve these problems,” the head of state added.
Let us recall that in December 2023, the Union of Grain Exporters (SEZ), within the framework of Russia’s chairmanship of BRICS in 2024, proposed creating a grain exchange for this association of countries that are the world’s largest producers and consumers of grain. The union sent a letter with this initiative to the head of the Ministry of Agriculture, Dmitry Patrushev.
“We have serious prerequisites for creating our own trading platform with settlements in any of the currencies of the BRICS countries, and in the future – in a special clearing currency in Russia or one of the countries with a strong financial system and a freely convertible currency other than the dollar,” noted Chairman of the SEZ Eduard Zernin.
Note that the BRICS countries – Brazil, Russia, India, China, South Africa – account for 40% of world grain production and consumption. Every year, the member states of the association produce more than 1 billion tons of grain.
[ad_2]
Source link
