World Grain Forum ends in St Petersburg

ST. PETERSBURG, June 7 (Itar-Tass) -- The St. Petersburg World Grain Forum is over.

More than 1,000 delegates, including agriculture ministers of Russia, Brazil, Germany, Israel, Saudi Arabia, Ukraine and some other countries, heads of international organizations, financial institutions, national and international unions of agricultural producers, market participants and experts, attended the forum.

Debates focused on global food security and efficient financial institutions in its support, causes and solutions of the food crisis, and national and international programs in support of farmers.

“The discussions confirmed that grain and its derivatives were the historical cornerstone of global food security,” organizing committee chair and First Deputy Prime Minister Viktor Zubkov said.

“Delegates to the World Grain Forum agreed that regular agricultural conferences were needed by the entire world,” he said.

A grain export pool of Russia, Kazakhstan and Ukraine was a separate item on the agenda. The three agriculture ministers agreed that the pool would be beneficial for their countries. “The pool will reduce volatility of prices on the world grain market and their dependence on speculative factors and create a mechanism of joint management of grain reserves,” the Russian side said.

The World Grain Forum is the first event of the sort held in the world and hosted by Russia. President Dmitry Medvedev initiated the forum and took part in its plenary meeting on Saturday. The World Grain Forum was timed to coincide with the St. Petersburg Economic Forum.