As the food crisis rages on in vulnerable countries, the minister of economy has urged the food industry not to boycott Russian and Ukrainian food products.
The crisis, which involves both a food shortage and high prices, will kill more people than during Covid times, according to Hott.
Many countries, including the U.S. and the European Union, have imposed sanctions on Russian goods during the war. Those in the food sector are avoiding transactions in order to protect themselves from the sanctions.
Food andfertilizer are not subject to sanctions. The market participants are hesitant to participate if the products are from certain locations because they are afraid of being sanctioned in the future.
Is it possible to say that if you want to buy food from Russia, or from any other country, there will be no sanctions tomorrow?
Africa are suffering, but we are not responsible for that.
Food security and rising food prices were the main topics of discussion at the G-20 meeting last week.
Before the war, food inflation and shortages were on the rise. Problems in places like Africa and the Middle East were worsened by the war because Russia and Ukraine are two of the biggest suppliers of food staple wheat.
One-third of those suffering from malnutrition globally are in Africa.
An $11 billion loss in food production this year has been attributed to a shortfall of 2 million tonnes offertilizer.
Investments to accelerate local food production are needed if Africa and other places can't rely on food imports anymore.
He said the world came together and made extraordinary decisions in a short period of time.
The partners changed their procedures to meet the challenge. Everyone changed their policies to aid the countries.
It's the same. We'll have more casualties if we don't get fast.
Amid intense competition for food, and key inputs like fertilizer, there is a risk that supplies may be diverted away from poorer countries to richer ones, repeating the experience for Covid-19 vaccines.
It will cost governments more money to buy food at a time when interest rates are going up.
Poorer countries will miss out because of the fight for the tight supply of food, according to the World Trade Organization director-general.
She urged countries to work together rather than against each other to resolve the food crisis and warned that supplies could be diverted away from poorer countries to richer ones.
At the same discussion, the U.S. Treasury Secretary said that the G-20 must lead by example and call on other countries to avoid counterproductive actions, such as stockpiling food and key supplies.
The statistics paint a dire picture according to the Food and Agriculture Organization.
The food price index has reached an all-time high and the director-general of the Food and Agriculture Organization recommended a four-point plan.
The Managing Director of the International Monetary Fund said that the G-20 countries need to dig deeper and come up with better solutions.
She said that trade restrictions are immoral and harmful if food doesn't get to where it needs to be.
We need to support food production, storage and distribution in order to increase the international supply of food.
The World Bank Group president David Malpass and the executive director of the World Food Programme were among those who issued a statement during the G-20 meeting.
According to their statement, by June 2022, the number of people who are food-insecure will have been restricted to the point that their lives are at risk.
The global community should not pin the blame for the food crisis on current challenges, such as the war or the Pandemic, said Georgieva.
The problem has been caused by climate change.
There was a crisis before the war started. What's the reason? Climate shocks reduced the production of food in a lot of places.
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