On April 16, representatives of the BRICS competition authorities held an online working meeting to discuss a joint market study into the global grain trade. The initiative was proposed by the International BRICS Competition Law and Policy Centre. During the meeting, the Centre’s Director, Alexey Ivanov, presented the study’s roadmap.
Market studies are a key instrument of competition enforcement in both developed and developing jurisdictions. In some cases, they also serve as a direct enforcement tool — for instance, the South African Competition Commission can issue binding remedies based on such studies. By contrast, the BRICS Competition Centre’s initiative frames the proposed project primarily as a form of joint analytical work aimed at improving understanding of cross-border market dynamics.
The study will be grounded in the global value chain (GVC) approach, which enables regulators to analyse markets through their transnational structures. Ivanov noted that traditional antitrust tools often fail to capture the cross-border nature of modern business practices, leaving significant aspects of market dynamics outside regulators’ field of vision.
“At this stage, the focus is on a market of high social importance and pronounced cross-border characteristics — namely, the global grain trade, given its impact on food security, farmers’ welfare, and local economic development,”
Ivanov said.
Particular attention will be paid to so-called “blind spots,” including the financialisation of trade, cross-border operations, and global price formation mechanisms. These issues were explored in a report prepared by experts of the BRICS Competition Centre within the BRICS Working Group for the Research of Competition Issues in Food Markets.
Ivanov also stressed the relevance of the study in light of current geopolitical developments, including the impact of armed conflicts on fertiliser and food markets. Rising energy and fertiliser prices, he noted, directly affect grain prices, increasing risks for global food security.
Participants further highlighted the importance of involving countries of the Global South, which are particularly vulnerable to price volatility and supply chain disruptions. Expanding participation —potentially in cooperation with UNCTAD — could enhance both the analytical depth and the practical relevance of the study.
As next steps, Ivanov proposed appointing contact points within BRICS competition authorities, defining priority areas of analysis, and agreeing on a work plan. Key milestones include discussing preliminary findings at the 23rd session of the UNCTAD Intergovernmental Group of Experts on Competition Law and Policy in Geneva in July 2026, and presenting the final results at the X BRICS International Competition Conference in Brazil in September 2027.
Anastasia Dokukina, Deputy Head of the Department for International Economic Cooperation of the FAS Russia, expressed support for the initiative, emphasising its importance not only for BRICS countries but also for developing economies more broadly. She underscored the value of continued dialogue in developing more effective regulatory and analytical approaches.
The importance of the proposed study was also highlighted by Marcelo Guimarães, Head of the International Unit, Administrative Council for Economic Defense of Brazil (CADE), Deswin Nur, Head of Bureau for Public Relations and Cooperation, Indonesian Competition Supervisory Commission, and Hardin Ratshisusu, Deputy Commissioner of the South African Competition Commission.
“I think the study will help bring together key insights of the BRICS countries in one place and then we can make those recommendations for the broader community, as these issues do affect not only our countries but many other economies,”
a South African representative noted.
In closing, Ivanov reiterated the importance of engaging Global South countries in the initiative, noting that broader participation would strengthen both its analytical and policy impact. He argued that the work of BRICS competition authorities should be leveraged as a basis for closer alignment with UNCTAD’s activities.
“It would be advisable to put forward an initiative to establish a new working group within UNCTAD that could bridge the competition agenda with work on trade and commodity markets.”
