Export restrictions could exacerbate global food crisis: WTO

By Al Mayadeen English
Source: Agencies
12 Jun 2022 21:02
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World Trade Organization chief warns nations not to "underestimate" the impact of restrictions on export.

World Trade Organization Director-General Ngozi Okonjo-Iweala

Export restrictions are causing food prices to increase which could aggravate the global food crisis, World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala said on Sunday in Geneva, Switzerland.

At a briefing ahead of the opening of the 12th WTO Ministerial Conference, Okonjo-Iweala told member nations not to "underestimate" the impact of restrictions on export, adding, "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.”

The WTO chief commented on the Ukrainian grain export by saying that UN Secretary-General Antonio Guterres keeps the matter under control and is holding talks with Ukraine and Russia, the European Union, and other political structures.

She touched on the importance of lifting export restrictions on the agricultural products' supply under the UN World Food Program, with the corresponding draft document expected to be adopted during the ministerial conference.

Since the beginning of the war in Ukraine, world officials and international organizations have been raising concerns over an imminent and large-scale food crisis, citing disruptions in supply chains, increasing prices, and derailed crop production. Russia and Ukraine account for an approximate 30% of global exports of wheat, 76% of sunflower, and 20% of maize.

While western countries accuse Russia of blocking grain shipments in the Black Sea ports, Moscow insists that Ukraine mined the ports, making shipments impossible.