Export curbs can blow up global food crisis: D - G

World Trade Organization (WTO) Director-general Ngozi Okonjo-iweala said on Sunday that member nations should not ‘underestimate’ the impact of export restrictions, as such measures, when implemented by countries, can exacerbate the ongoing global food crisis.

“You saw that in the 2008-2009 food crisis, just those kinds of actions did lead to price spikes. In the food security declaration, our members are trying to speak about how they would try to restrain themselves from taking these kinds of actions. And this is a very important contribution that they can make to keep the price of food products from rising even higher. So I think that’s a very important contribution,” Ngozi said at the opening press conference of the four-day ministerial that started on Sunday in Geneva.

The world is currently staring at a shortage of foodgrains, skyrocketing crude prices and soaring inflation, triggered by a conflict between Russia and Ukraine that started this year in February. These developments have hit poor nations the hardest, especially countries that have been dependent on the two former Soviet nations for such supplies.

As many as 23 countries, including India, have imposed regulations on food exports to secure their food supplies. Last month, India had also imposed curbs on export of wheat and sugar, stating that the government didn’t want any surplus to go into the hands of hoarders who would then charge a huge amount from poorer nations. The decision on export curbs saw reaction from politicians across the world urging India to reconsider its decision, amid surging global food prices.

The D-G further said achieving even one or two deliverables at this meeting can be called a success. However, she warned that even having consensus on one or two agreements will not be an easy road.

“The road will be bumpy and rocky. There may be a few landmines on the way. We’ll have to navigate those landmines and see how we can successfully land one or two deliverables,” she said, adding that now there is a need for a political will for ministers to go the last mile and agree on key issues — increasing access to Covid-19 vaccines, reducing fishing subsidies negotiations, agriculture issues including public stockholding for food security, and look at ways to introduce reform at the WTO.

THE ROAD WILL BE BUMPY AND ROCKY... WE’LL HAVE TO NAVIGATE THOSE LANDMINES AND SEE HOW WE CAN SUCCESSFULLY LAND ONE OR TWO DELIVERABLES

NGOZI OKONJO-IWEALA WTO DIRECTOR-GENERAL