With the West Asia crisis pushing up food prices globally, Brics members on Saturday emphasised the importance of setting up a grain trading platform amongst themselves, to be called Brics Grain Exchange that could potentially be expanded to include other agricultural products and commodities at a later time. The exchange as a digital platform was first proposed in 2023.
The BRICS Grain Exchange is being championed by Russia, one of the world’s largest producers of grains, to break the hold of global grain trading platforms, many of which are based in Europe and the United States.
By some estimates, Brics nations contribute more than 40 per cent of the global food and farm output, besides being large consumers, but more often than not, the real price setters are guided by Western priorities.
“We emphasise the importance of ensuring food security and nutrition and mitigating the impacts of acute food price volatility, as well as abrupt supply crises, including fertilizer shortages. In this regard, we acknowledge the importance of continuing to elaborate the initiative to establish a grain trading platform within BRICS (the BRICS Grain Exchange) and welcome further discussions on the modalities of its functioning, its subsequent development, and its expansion into other agricultural products and commodities,” the Brics Joint Declaration unanimously adopted by all participating countries in Delhi today, stated.
The Brics countries also agreed to establish the Brics Agro-Inputs, Genetic Resources, and Information Network (BRICS AGRIN). The network will be collaborative, non-binding and farmer-centric, drawing on relevant national, regional and international practices.
They also endorsed the launch of a Global Forum on Farmers’ Rights in Seed Systems, aimed at addressing common challenges, promoting effective policies and facilitating documentation and exchange of traditional knowledge related to agriculture and seed systems.
Another major initiative endorsed in the Delhi Declaration was the establishment of a BRICS Network of Centres of Excellence on Agroecology and Regenerative Agriculture for Climate Resilience and Productivity. This network is aimed at strengthening cooperation and knowledge-sharing around sustainable and climate-resilient farming practices.
The Brics countries also backed a ‘BRICS Network on Digital Agriculture’, covering areas including agroforestry, fisheries and aquaculture, while encouraging greater cooperation under the existing BRICS Dialogue on Development of Fisheries and Aquaculture.
The Declaration also stressed the need to address food security and nutrition concerns amid acute food price volatility and sudden supply disruptions, including fertiliser shortages.
Brics members also supported discussions on national policies and international coordination to improve food availability, accessibility, utilisation, stability and affordability, as well as access to key agricultural inputs.
In the declaration, the BRICS countries also called for stronger national capacities to respond to supply disruptions, including through national food reserve systems and drought-resilient and climate-adaptive seed systems.
The Declaration also recognised family farmers, smallholders, pastoralists, artisanal and small-scale fishers, aquaculture producers, indigenous peoples and local communities, as well as women and youth, as key stakeholders in agriculture and food systems.
On global trade, the grouping reaffirmed its commitment to advancing agricultural negotiations at the World Trade Organization (WTO) in line with existing ministerial mandates and the WTO Agreement on Agriculture. It called for progress on long-standing issues and a fair, balanced and development-oriented agricultural trading system.
The Declaration also recognised the growing impact of policy and regulatory changes on agricultural production, trade, food security and the livelihoods of smallholders and family farmers, while supporting efforts towards sustainability, inclusivity and equitable market access in the global sustainable vegetable oils sector.
