BRICS Reshape Global Farming Market: No more following US regulation

The BRICS Grain Exchange, a strategic initiative led by Russia, represents a significant move towards reshaping the global grain market. This initiative aims to enable direct purchases between buyers and producers, thus reducing market volatility and the impact of speculative trading. Russia’s collaboration with China is a key component, highlighted by a groundbreaking grain-supply contract valued at nearly 2.5 trillion roubles ($25.8 billion), the largest in the history of their bilateral food trade. This deal, which includes the delivery of 70 million tonnes of grain to China over the next 12 years, is part of broader efforts to enhance food and energy security amidst geopolitical tensions. Additionally, the development of the “Grain Terminal Nizhneleninskoye-Tongjiang“ at the China-Russia border is set to facilitate the efficient transportation of Russian grain to China, reflecting the deepening economic ties between the two nations. With China setting ambitious grain production t