US to host G20 talks on food, fertilizer amid supply concerns

The US has said that it will host further discussions under the G20 in the coming weeks on food and fertilizer, following talks in Washington on the economic impact of Middle East tensions on global supply chains.

According to the chair's statement of the US G20 presidency, finance ministers and central bank governors met on April 16 and discussed a range of issues, including the effects of the regional conflict on agricultural markets, value chains, and fertilizer supplies.

“Many members raised the importance of efforts to keep food and fertilizer supply chains functioning, particularly for low-income and vulnerable countries,” the statement said Friday, adding that participants stressed the need to avoid “export prohibitions or restrictions on fertilizers.”

The statement noted that members welcomed coordination efforts by the International Monetary Fund and the World Bank Group to maximize responses to economic disruptions.

“Many members committed to staying agile and flexible in their macroeconomic policy responses and cooperation,” it said, adding that they also discussed “the potential for coordinated action to promote food security and support market stability.”

Participants further emphasized the need to diversify fertilizer production to shield the poorest populations from disruptions in food trade supply chains.

The US G20 Presidency said it “commits to hosting further discussions on the subject of food and fertilizer in the coming weeks.”

The G20 brings together the world’s major economies to coordinate policies on global financial stability, with recent discussions increasingly focused on the spillover effects of geopolitical tensions on food security and supply chains.