FAS: VOLUME OF EXCHANGE TRADING IN AGRICULTURAL PRODUCTS FOR 9 MONTHS OF 2023 WAS ABOUT 1 MILLION TONS IN THE AMOUNT OF 19.5 BILLION RUB

These figures were announced during a meeting of the Subcommittee of the Exchange Committee under FAS Russia on the development of on-exchange trading of agricultural products

The most actively developing form of on-exchange trading is unilateral commodity auctions, carried out by request of large producers, exporters or processors of agricultural products on the National Mercantile Exchange (NAMEX). The number of participants in such auctions in 2023 increased from 537 to 730 organizations. In addition, all the formal procedures necessary for admission to commodity auctions of foreign participants will be completed in the near future.

The range of products traded on the stock exchange is also expanding due to the inclusion of oilseeds, sugar, sunflower oil and meal. NAMEX plans to launch on-exchange trading of dairy products, meat (poultry, pork), industrial margarine. Trading volumes of oilseeds, in particular soybeans, will allow to calculate the stock index for this product in 2023.

As part of the implementation of voluntary commitments by sugar market participants to increase the volume of on-exchange trading (up to 10 % of the total volume of sugar produced in the Russian Federation), spot sugar trading is developing at NAMEX: for 9 months of 2023, compared to the same period of 2022, the trading volume doubled and amounted to 215 thousand tons. According to Soyuzrossakhar, the initiative to increase the volume of exchange trading in sugar was supported by its producers, which account for more than 90 % of the total production of these products.

Besides, since the beginning of 2023, the volume of registered over-the-counter transactions with sugar has amounted to more than 5 million tons. Such a volume of transaction registration and the formation of an over-the-counter indicator for sugar allowed to launch a settlement futures contract for the sugar index in the Central Federal District on the Moscow Exchange futures market in September 2023.

The achievement of significant progress in the development of on-exchange trading in agricultural markets was due to the constructive information interaction of FAS Russia, the exchange community and market participants. The work on the site of Subcommittee of the Exchange Committee under FAS Russia is aimed at popularizing exchange trading, putting into practice a mechanism for verifying price indicators, improving the regulatory framework governing the procedure for registering over-the-counter transactions on-exchange.