Russia wants BRICS to become OPEC for wheat.

[Harpy Eagle]

Russia wants BRICS to become OPEC for wheat. Will members buy it?

Putin proposes grain exchange in response to record-low prices

asia.nikkei.com

Russia is leading a charge to turn the BRICS economic bloc into the top influencer of global grain prices.

In a declaration following a three-day BRICS summit this week in Kazan, Russia, a call for the end of "illegal sanctions" against members Russia and Iran grabbed headlines. But buried inconspicuously within the document was a plan to establish a grain exchange within BRICS.

Not sure what the other members get out of this, seems Russia is getting desperate to stay relevant in the world today.

 

[westwall]

Russia wants BRICS to become OPEC for wheat. Will members buy it?

Putin proposes grain exchange in response to record-low prices

asia.nikkei.com

Russia is leading a charge to turn the BRICS economic bloc into the top influencer of global grain prices.

In a declaration following a three-day BRICS summit this week in Kazan, Russia, a call for the end of "illegal sanctions" against members Russia and Iran grabbed headlines. But buried inconspicuously within the document was a plan to establish a grain exchange within BRICS.

Not sure what the other members get out of this, seems Russia is getting desperate to stay relevant in the world today.

It would cripple the USA. That would help the BRICS nations enormously.

 

[sparky]

Maybe it's not so much what earthly goods hold valuation as much as who sets said value to it ?

~S~

 

[westwall]

Maybe it's not so much what earthly goods hold valuation as much as who sets said value to it ?

~S~

That's the whole point. Right now the world runs on the dollar. If the world moves to BRICS the USA instantly loses about half of our GDP.

 

[Mac-7]

Russia wants BRICS to become OPEC for wheat. Will members buy it?

Putin proposes grain exchange in response to record-low prices

asia.nikkei.com

Russia is leading a charge to turn the BRICS economic bloc into the top influencer of global grain prices.

In a declaration following a three-day BRICS summit this week in Kazan, Russia, a call for the end of "illegal sanctions" against members Russia and Iran grabbed headlines. But buried inconspicuously within the document was a plan to establish a grain exchange within BRICS.

Not sure what the other members get out of this, seems Russia is getting desperate to stay relevant in the world today.

Russia may be the largest exporter of wheat but its far from the only producer

Ukraine for instance along with the US are major producers

Not sure about Panama though

 

[Harpy Eagle]

Russia may be the largest exporter of wheat but its far from the only producer

Ukraine for instance along with the US are major producers

Not sure about Panama though

The US is the 2nd largest exporter of wheat. This would not harm the US at all.

As for Panama, their top Ag exports are bananas, shrimp, pineapple, watermelons and Gourmet Coffee

 

[luiza]

Not sure what the other members get out of this, seems Russia is getting desperate to stay relevant in the world today.

You delight in saying stupid things .
In a desperate attempt to keep your world view intact .
Cognitive Rigidity .

 

[ZestolPastilevsky]

I don't think it really adds up. The US and it's satellites are perfectly capable of producing their own wheat. Oil is a rather unique commodity. Furthermore, BRICS is more about macroeconomic issues than it is about little finnicky matters like wheat.

 

[Harpy Eagle]

I don't think it really adds up. The US and it's satellites are perfectly capable of producing their own wheat. Oil is a rather unique commodity. Furthermore, BRICS is more about macroeconomic issues than it is about little finnicky matters like wheat.

It does not add up. As I said in the OP, seems Russia is getting desperate to stay relevant in the world today.

 

[ZestolPastilevsky]

It does not add up. As I said in the OP, seems Russia is getting desperate to stay relevant in the world today.

I am inclined to disagree.

 

[luiza]

It does not add up. As I said in the OP, seems Russia is getting desperate to stay relevant in the world today.

Saying something does not in itself explain or substantiate .

It is known as Waffle or Bull Shite when it is patently crass .

If you had suggested that Russia's importance in so many areas underlines its progress to world pre-eminence, along with China -- you might have a more interesting and sustainable point for discussion .
Your fanciful idea of "Desperation " is laughable ..

 

[Harpy Eagle]

I am inclined to disagree.

Then what is your hypothesis of why Putin is pushing this?

 

[ZestolPastilevsky]

Then what is your hypothesis of why Putin is pushing this?

It's would enable the global south to stabilize the grain market. And besides, the point of the forum is to discuss economic issues. What else would you have them talk about?

 

[ESay]

Not sure how BRICS can become 'an OPEC for wheat' if only 2 out of top-10 wheat exporters are the members.

 

[Harpy Eagle]

Not sure how BRICS can become 'an OPEC for wheat' if only 2 out of top-10 wheat exporters are the members.

Indeed.

 

[sparky]

So it would appear the devil is yet again in the details ~S~

 

[Harpy Eagle]

So it would appear the devil is yet again in the details ~S~

or it is just empty posturing by Putin.

 

[ESay]

Putin's intentions for BRICS is much wider than wheat or some other commodities. He clearly wants the bloc to become an alternative for the West-led financial institutions with own currency.

 

[Harpy Eagle]

Putin's intentions for BRICS is much wider than wheat or some other commodities. He clearly wants the bloc to become an alternative for the West-led financial institutions with own currency.

It is the only hope Russia has to stay relevant in the world.

He wants to ride the coat tails of China and Brazil and India

 

[westwall]

It is the only hope Russia has to stay relevant in the world.

He wants to ride the coat tails of China and Brazil and India

You are like kamala and her word of the week!

Russia is waging war in Ukraine, probably engaging in sabotage throughout Europe, and has nukes.

You think they aren't "relevant "?