Who will co-chair the new BRICS task force on grain trade?

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Diogo Thomson and Mahmoud Momtaz will co-chair the new BRICS task force on grain trade.

Diogo Thomson, President of Brazil's Administrative Council for Economic Defense (CADE), and Mahmoud Momtaz, Chairperson of the Egyptian Competition Authority (ECA), have been appointed as co-chairs of the newly established BRICS task force. This task force is dedicated to conducting a joint sector inquiry into the global grain trade. The initiative aims to foster greater cooperation among BRICS nations on competition policy within international agricultural markets.
Establishment of the Task Force

The decision to form this task force was announced during a discussion titled "Competition Development in Global Grain Trade: Joint Efforts of BRICS Countries," which was organized by the BRICS Competition Law and Policy Centre. This event took place on the sidelines of the 23rd Session of the UNCTAD Intergovernmental Group of Experts on Competition Law and Policy in Geneva. The establishment of the task force signifies a coordinated market study within the framework of the BRICS Working Group on Food Markets.
Objectives of the Joint Sector Inquiry

The primary objective of the sector inquiry is to investigate competition within the global grain trade. Discussions leading to its formation highlighted concerns regarding the growing influence of financialization and digitalization across agricultural value chains, as well as the need for policy tools to enhance market transparency. Co-chair Mahmoud Momtaz specifically noted that speculative factors significantly influence global grain markets, emphasizing that greater market transparency is the most effective response to ensure fairer value distribution between farmers and consumers.
Future Directions and Recommendations

The task force is expected to develop a common AI-powered price monitoring tool for BRICS grain markets to aid market analysis. Furthermore, the findings of the inquiry are intended to contribute to the implementation of the BRICS Grain Exchange initiative. This initiative, endorsed by BRICS leaders, aims to serve as an innovative mechanism for restoring competition and improving transparency in the global grain trade, with practical recommendations to be submitted to the leaders of the member countries.

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Who will co-chair the new BRICS task force on grain trade?

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