Russia To Discuss Establishing A World Grain Cartel

Representatives of over 40 countries will attend the World Grain Forum on June 6-7 in St. Petersburg.

On the agenda of topics for discussion, apparently, is forming a global grain cartel.

"The possibility of establishing a so-called grain OPEC, if you wish, will be discussed at the forum. I think the prospects for establishing a grain OPEC are quite good, since the time has come to regulate grain exports, pricing policies and grain quality," Valentina Matviyenko the governor of Russia's second-largest city said on Monday.

An interesting proposition from the world's fourth largest grain exporter, who have been busy aggressively marketing 20 MMT of their own grain in 2008/09.