Reuters: US calls for new G20 talks over threat to global food markets

The United States will hold additional talks in the coming weeks within the G20 framework on the impact of the war in the Middle East on food and fertiliser markets, and is continuing to call for coordinated international action.

Washington, which currently holds the G20 presidency, aims to secure coordinated measures in cooperation with the International Monetary Fund (IMF) and the World Bank, according to Reuters.

A copy of the statement, released instead of a communique that would have required consensus by all members, said G20 finance officials discussed a range of issues, but stopped short of announcing an agreement for ​coordinated action to ensure fertiliser access amid war-related disruptions.

The IMF estimates that the war, combined with a surge in energy prices and disruptions in fertiliser supply chains, could push an additional 45 million people into food insecurity.

The Fund also expects that at least 12 countries will seek new assistance programs as a result of the worsening conditions.

While most G20 members have supported the US initiative, some participants have not yet confirmed their readiness to take coordinated action.

By Bakhtiyar Abbasov