FAS presented a draft Road Map on organizing exchange trading on agro-industrial markets

21-12-2016 | 08:42

On 15 December 2016 FAS Expert Council on Agro-Industrial Complex discussed stages of launching sugar exchange trading

“FAS has been working on developing exchange trading in several industries and sectors of the economy for several years. First of all, exchange trading is the basis for establishing open markets enabling to reveal indicators of objective prices for particular goods, and the mechanism of exchange work excludes intermediaries between producers and consumers”, said Deputy Head of FAS Andrey Tsyganov, opening the event. “The objective of the Antimonopoly Service and other bodies that form the Exchange Committee is to create such legal conditions when exchange trading will be beneficial for market participants without restricting independence of producers”.

Members of the Expert Council were presented a draft Road Map on particularly, on the sugar market. Representatives of the Ministry of Agriculture, “Moscow Exchange” PJSC and “Russian Union of Sugar Producers” took part in drafting the Road Map. “The Road Map is designed to popularize exchange trading across the business community and includes several measures that will ensure liquidity for all parties involved in trading”, stated Head of FAS Department for Control over Chemical Industry and Agro-Industrial Complex, Anna Mirochinenko.

According to Director of Department for Regulating Agro-Industrial Complex Markets, the Ministry of Agriculture of the Russian Federation, Vladimir Volkov, developing exchange trading will stimulate developments of commercial and logistic infrastructures and enable Russian agricultural producers to enter international markets.

Director of Market Department, Moscow Exchange” PJSC, Mikhail Orlenko, pointed out that the first test exchange transactions on the sugar market can be concluded already in Q1 2017. The trading will be organized by the national Commodities Exchange, and the “National Clearance Centre” Bank will be the central counteragent and clearance body.

“We have focused on the grain and sugar markets but we do not exclude a possibility to launch exchange trading on the market of dry milk, meat, butter and vegetable oil”, clarified Andrey Tsyganov.

Igor Trofimov, Unit Head at a Department of the Ministry of Economic Development, reported that the Ministry is currently defining the priority goods positions for entering the exchange.

Summing up, Deputy Head of FAS said that the draft Road Map for developing exchange trading on the sugar market will be approved in the near future.  The proposals will form a special section in the final document of the Ministry of Agriculture for developing competition in agriculture, which is being drafted jointly with the antimonopoly body to execute the Government instructions issued on the basis of FAS autumn report on the state of competition in Russia. Producers of mineral fertilizers are also devising a Road Map on developing exchange trading.

The next meeting of FAS Expert Council on Agro-Industrial Complex is scheduled for Q1 2017.

 


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