We should consider how much creation of "grain OPEC" complies with WTO standards - Tokayev

Date: 16:22, 03-06-2020.

Astana. June 3. KazTAG - President of Kazakhstan Kassym-Jomart Tokayev said that it is worth considering how much creation of "grain OPEC" compliant with the regulations of the World Trade Organization, reports Komsomolskaya Pravda.
"We should take into consideration the interests of small players, we should think how much creation of "grain OPEC" corresponds to the WTO standards. However, the concept deserves discussion of specialists," he said in the interview to Kazakhstanskaya Pravda newspaper.
He reminded Russia and Kazakhstan are in the top 10 world grain exporters.
"Our share in the world grain export makes 3%. As  known, the OPEC regulations are targeted on restriction of production volumes in order to reach favorable oil prices. Creation of "grain OPEC" can be an interesting initiative targeted on provision of stability of grain market and coordination of pricing policy for grain," he said.
He said "grain market has its specifics".

Photo source: picture from an open source

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