BRICS Considers Russia’s Proposal for a Digital Grain Exchange

Source: The Economic Times | Original Published At: 2026-08-19 00:00:00 UTC

Key Points

• Russia presented the BRICS Grain Exchange framework at a recent meeting of BRICS trade ministers in Jaipur.
• The proposed digital platform would allow agricultural producers and buyers to trade directly.
• Russia’s Union of Grain Exporters and Producers first proposed the exchange in 2023; President Vladimir Putin backed it in 2024.
• The union estimated that trade in agricultural and related products among BRICS countries could eventually exceed $1 trillion.
• According to Russia, the exchange would reflect supply and demand within BRICS and help members retain control over commodity flows.
• The article reports that the proposal is expected to be discussed at the September 12–13 BRICS Summit in New Delhi.