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Exchange trading in two types of meat will begin in Russia this summer

Published May 26, 2024

Tridge summary

Russia is set to launch commodity auctions for pork and chicken meat this summer, according to Nikolai Aksyonov, executive director of the National Union of Meat Processors. The auctions will be hosted on the National Commodity Exchange (NTB), with pork trading expected to commence in June and chicken trading soon after. This move aims to ensure fair pricing for exporters and regulatory authorities amidst rising meat prices. The NTB also plans to introduce auctions for soybean futures contracts and possibly sunflower and sunflower oil contracts later in the year.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Commodity auctions for pork and chicken meat will begin in Russia this summer. As TASS reports, Nikolai Aksyonov, executive director of the National Union of Meat Processors, spoke about this at the Russia exhibition and forum. He shared such plans at the forum “Exchange market of Russian agricultural products: main directions and development prospects” held as part of the event. He clarified that trading will be held on the National Commodity Exchange (NTB, part of the Moscow Exchange group). According to him, pork trading will be launched there in June, and chicken trading a little later. He did not announce the exact dates. Aksyonov also said that a special working group has already been created, the rules for access to the exchange and direct trading have been determined. But he also did not provide details on them. They will become known directly at the time of the auctions and only to their participants. The expert believes that the creation of an exchange market for these ...
Source: Rosng
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