Russia’s proposal to create a new international grain exchange was recently approved by the BRICS group of countries at a summit in Russia. | Reuters photo

‘Wheat OPEC’ idea faces uphill battle

Analysts say proposed BRICS grain exchange is doomed to fail, comparing it to similar initiatives attempted in the past

SASKATOON — A BRICS grain exchange won’t work, say analysts. Russia’s proposal to create a new international grain exchange was recently approved by the BRICS group of countries at a summit in Russia. Related stories: Russia’s proposed grain exchange for BRICS countries may take years to launch BRICS grain cartel unlikely BRICS is an intergovernmental […] Read more

Russia has been pushing to establish the BRICS grain exchange as part of a broader plan to create new financial instruments, detach its trade from the U.S. dollar and help Moscow combat western sanctions. | Reuter photo

BRICS grain exchange will take time

MOSCOW, Russia (Reuters) — Russia’s proposal for a new international grain exchange could take years to get off the ground, even though the plan was welcomed by members of the BRICS group of countries at a recent summit in Kazan, Russia. The country has been pushing to establish the exchange as part of a broader […] Read more