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All news / Russia plans to initiate creation of ‘grain OPEC’

  • 07 Oct 2019, 10:41

 Russian Deputy Prime Minister Alexei Gordeyev suggested setting up an organization of grain exporters similar to the Organization of Petroleum Exporting Countries (OPEC) during talks in Germany on Saturday, his press service said in a statement.

"Vice premier Alexei Gordeyev came up with a proposal to create an OPEC-type organization for grain exporters in order to ensure the stability of the grain market, coordinate grain prices and tackle famine," the statement says.

The initiative was voiced during a meeting with German Minister of Food and Agriculture ·Julia Klockner and Minister-President of North Rhine-Westphalia Armin Laschet on the sidelines of the ANUGA-2019 exhibition in Cologne.

According to the Russian official, the future organization "could include Russia, the European Union, the United States, Canada, Argentina, other nations."

He also suggested discussing coordination among the world’s biggest grain exporters during the Green Week exhibition in Berlin.

Gordeyev leads the Russian delegation to the ANUGA-2019, a major international trade fair for food and beverages in Cologne that marks its 100th anniversary this year. A total of 41 Russian enterprises presented their products at the event, compared to 12 last year.