The Russian President Vladimir Putin has revealed plans to create a BRICS-based grain exchange which would facilitate the formation of fair and predictable price indicators for products and raw materials, taking into account their special role in ensuring food security.
Newsreportzim.com has learned about the proposal through BRICS News’ post on X.
“Russian President Putin proposes plan to create a BRICS-based grain exchange.
“A number of BRICS countries are among the world’s largest producers of grain, vegetables, and oilseeds.
We propose opening a BRICS grain exchange, which would facilitate the formation of fair and predictable price indicators for products and raw materials, taking into account their special role in ensuring food security,”” the post reads.
BRICS grain exchange could be a serious game changer in food security terms, and it would also give BRICS countries more control over grain prices and help stabilise those prices.
This initiative would strengthen their bargaining position in global trade and improve food security for member countries.
