CADE takes part in BRICS to discuss food market

CADE took part in the BRICS Working Group for the Research of Competition Issues in Food Markets, in Egypt, on 04 and 05 February.

Competition authorities from the 11 Global South countries gathered to discuss reasonable measures to fight increasing concentrations in global grain value chains, which is essential to ensure food security and a highly concentrated market. The discussion was grounded in the study “From Fields to Futures: Competition, Financialization and Digitalization in Global Grain Value Chains”, by the BRICS Competition Law and Policy Centre.

President Gustavo Augusto took part in the panel “Defining the Contours of the BRICS Joint Sector Inquiry into the Global Grain Trade” (Full Schedule here) strengthening the commitment of the Brazilian authority with more competitive, transparent, and resilient markets. His attendance highlights the Brazilian prominent role in the international debate about competition in critical sectors, and CADE’s willingness to actively contribute to coordinated solutions in the scope of BRICS.

“CADE’s participation reinforces the importance of cooperation among competition authorities, especially in food markets that affect the population directly”, highlights Gustavo Augusto.

Acting co-ordinately, BRICS seeks to build a fairer, more competitive, and collaborative global market where food security and public interest underpin the decisions.

Working Group

The meeting in Egypt intended to build up consistent institutional answers in face of the concentration of economic power in the grain market, and associated systemic risks.

The agenda included debates on the scope and phases of a possible joint study by the BRICS competition authorities.