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Putin backed BRICS grain exchange expected to exceed $1 trillion turnover
Russia told the group's trade ministers in India that the exchange will be a digital trading platform and remove external intermediaries.
...Russia presented the framework of the BRICS Grain Exchange at a meeting last week of the bloc's economy and trade ministers in Jaipur, India, touting it as a "unified digital trading platform where producers and buyers of agricultural crops could deal with one another directly."
Russia's Union of Grain Exporters and Producers, which first proposed the establishment of the exchange in 2023, has estimated that trading of agricultural and related products could eventually exceed $1 trillion. Putin backed the initiative in 2024 and said it could eventually evolve into a full fledged commodity exchange...
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