BRICS countries target the world’s major grain traders

The BRICS group, which includes some of the biggest grain sellers and buyers, has launched a joint investigation into possible monopolies in the global grain trade.

On 9 July, the competent authorities of the BRICS countries met behind closed doors in Geneva at the headquarters of the United Nations Trade and Development Organization (UNCTAD). The aim of the meeting was to address the market dominance of the major players in the global grain trade: ADM, Bunge, COFCO, Cargill and LDC (a group known as ABCD+). This issue is of strategic importance for the BRICS countries, as they account for about 44% of global grain production and 25% of its consumption.

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