MOSCOW, June 28. /TASS/. The BRICS countries supported Russia’s initiative to create a grain exchange, Agriculture Minister Oksana Lut told reporters following the 14th meeting of the BRICS agriculture ministers.

"We are grateful to all BRICS member countries <...> for their support of the Russian initiative to create the BRICS grain exchange. Now, in accordance with the instructions of the President of the Russian Federation Vladimir Vladimirovich Putin, we will work together with our colleagues on the creation and development of this platform and the development of the possibility of settlements in national currencies of the BRICS countries," Lut said.

At the meeting the ministers also touched upon the key issues of BRICS food security, as well as global food security, she added.

"The BRICS countries now make up about 30% of all arable land in the world. We jointly produce about 40% of grain crops, 50% of fish, 50% of dairy products worldwide. Therefore, in fact, the BRICS countries are a key platform for ensuring global food security," Lut said.

At a meeting of President Vladimir Putin with employees of the agro-industrial sector in March, Chairman of the Board of the Union of Grain Exporters, Eduard Zernin, spoke about the initiative to create a grain exchange within the BRICS member countries. The President upheld the idea. According to Putin, many BRICS countries will be interested in the creation of a grain exchange, since many of them produce and buy grain.