На четырёх ногах

Россия в глобальной политике. 2022. Т. 20. № 3. С. 161–176.

Ivanov A., Molodyko K.

In some commodity markets, including the international gas market, a system of the ‘four-legged chair’ has developed by natural evolution, which includes a) long-term contracts, b) the relatively short-term futures market, c) the spot market, d) the developed commodity exchange, which really represents the interests of key producers and buyers of goods from different countries. However, in the international food markets there is neither a normally developed system of long-term contracts, nor a fair international commodity exchange of elements. So, these markets resemble a chair with two legs, that is, an extremely shaky, unstable structure. The prices of delivery contracts of the Chicago Exchange for wheat objectively reflect the balance of supply and demand within the United States domestic market. But it is unacceptable that they are often used as a price guide in the Eastern Hemisphere, which requires the creation of a separate international commodity grain exchange. The development of instruments for exchange trading in goods at the level of the Eurasian Economic Commission and the Federal Antimonopoly Service of Russia should be welcomed. The international commodity exchange should unite, first of all, the countries of the EAEU, BRICS, Argentina, and the pool of some importing countries so as to become the basis for creating a new international grain organization. It is also necessary to work with countries in Asia and Africa to build a market for long-term ten-year food supply contracts, using wheat as a pilot project. These states should be provided all possible assistance in the creation of reserve food warehouses for the physical storage of food on their territory. Ensuring real food security for the countries of Asia and Africa will become a reliable safeguard against shattering the political situation in these states. 

Keywords: stock exchange, зерновой рынок, grain market, товарная биржа, export promotion programs, global food security, глобальная продовольственная безопасность, продвижение экспорта, устойчивое развитие стран Азии и Африки, sustainable development of Asian and African countries