AGL 5.60 Decreased By ▼ -0.18 (-3.11%)
ANL 8.90 Increased By ▲ 0.02 (0.23%)
AVN 76.85 Decreased By ▼ -2.07 (-2.62%)
BOP 5.26 Decreased By ▼ -0.02 (-0.38%)
CNERGY 4.63 Decreased By ▼ -0.07 (-1.49%)
EFERT 81.27 Decreased By ▼ -0.33 (-0.4%)
EPCL 50.08 Decreased By ▼ -0.83 (-1.63%)
FCCL 13.16 Decreased By ▼ -0.22 (-1.64%)
FFL 5.69 Decreased By ▼ -0.03 (-0.52%)
FLYNG 7.07 Decreased By ▼ -0.08 (-1.12%)
FNEL 4.79 Decreased By ▼ -0.03 (-0.62%)
GGGL 8.80 Decreased By ▼ -0.10 (-1.12%)
GGL 14.55 Decreased By ▼ -1.33 (-8.38%)
HUMNL 5.69 Decreased By ▼ -0.08 (-1.39%)
KEL 2.63 Decreased By ▼ -0.03 (-1.13%)
LOTCHEM 28.60 Decreased By ▼ -0.45 (-1.55%)
MLCF 24.49 Decreased By ▼ -0.61 (-2.43%)
OGDC 72.43 Decreased By ▼ -0.02 (-0.03%)
PAEL 15.36 Increased By ▲ 0.01 (0.07%)
PIBTL 5.00 Decreased By ▼ -0.05 (-0.99%)
PRL 16.10 Decreased By ▼ -0.19 (-1.17%)
SILK 1.08 Decreased By ▼ -0.01 (-0.92%)
TELE 9.14 Decreased By ▼ -0.23 (-2.45%)
TPL 7.23 Decreased By ▼ -0.10 (-1.36%)
TPLP 18.61 Decreased By ▼ -0.34 (-1.79%)
TREET 21.68 Decreased By ▼ -0.32 (-1.45%)
TRG 136.71 Decreased By ▼ -4.44 (-3.15%)
UNITY 16.88 Decreased By ▼ -0.14 (-0.82%)
WAVES 9.86 Decreased By ▼ -0.04 (-0.4%)
WTL 1.41 No Change ▼ 0.00 (0%)
BR100 4,225 Decreased By -29.6 (-0.7%)
BR30 15,518 Decreased By -214.7 (-1.36%)
KSE100 42,150 Decreased By -243.4 (-0.57%)
KSE30 15,588 Decreased By -75.7 (-0.48%)
Follow us

GENEVA: The European Union, the United States and more than two dozen other countries vowed Friday to shore up global food security in a joint statement to the World Trade Organization.

Voicing alarm at the “global effects on food security” triggered by Russia’s invasion of Ukraine, they stressed “the urgency and importance of maintaining open and predictable agricultural markets and trade”.

That would “ensure the continued flow of food, as well as products, services and inputs essential for agricultural and food production and supply chains”, they added.

The United Nations has warned the war and economic sanctions on Moscow have disrupted global food supplies, sparking fears of widespread hunger.

“The bullets and bombs in Ukraine could take the global hunger crisis to levels beyond anything we’ve seen before,” World Food Programme chief David Beasley warned back in March.

The conflict, he later told the UN Security Council, would mean “skyrocketing food, fuel and shipping costs, less food for the starving and even more people going hungry.”

Food prices ease slightly in April after record surge, UN agency says

Russia and Ukraine, whose vast grain-growing regions are among the world’s main breadbaskets, account for a huge share of the globe’s exports in several major commodities, including wheat, vegetable oil and corn.

Together, they account for 30 percent of the global wheat trade.

The war has sent commodity prices soaring, with the price of sunflower and colza oil shooting up 40 percent in Europe in two months.

And the turmoil in markets has deepened as some countries mull cutting exports to ensure supply at home.

Indonesia’s recent decision to suspend palm oil exports in the face of domestic shortages has pushed vegetable oil prices to new highs.

There has also been speculation that India, the world’s number two wheat producer hit by a record heatwave, would curb exports of the grain — something New Delhi denies.

Indonesia and India were not among the 51 WTO member states who signed Friday’s statement. Large agriculture nations like Brazil and Argentina were also missing.

The document highlighted “the importance of exercising restraint in excessive stockpiling and hoarding of agricultural products affected by this crisis that are traditionally exported.”

Russia to update its strategy in World Trade Organization amid sanctions, says Putin

The countries pledged to work together to ensure “sufficient, safe, affordable and nutritious food” is available to everyone at all times, and vowed to keep their food and agriculture markets “open”.

They warned applying measures such as “unjustified export prohibitions and restrictions on agricultural and agri-food products, increases uncertainty and can result in a spiral of price increases and further restrictions”.

They said any country’s measures to mitigate food security impacts should be “as least-distortive as possible” and should follow WTO rules.

And they stressed no export bans or restrictions should be imposed on food purchased by the UN’s World Food Programme for humanitarian purposes.

Commenting on Friday’s statement, Simon Manley, Britain’s ambassador to the UN in Geneva, blamed Russian President Vladimir Putin for the global food security crisis.

“Putin’s incessant hunger for war is leaving the world hungry and the most vulnerable will be hit the hardest,” he said.


Comments are closed.

Countries vow to boost food security amid Ukraine war

Fawad says PTI ‘preparing for elections’ as Imran withdraws offer for talks

Tweets case: Quetta court approves Azam Swati’s five-day physical remand

Effective Nov 2022: Agri consumers of Discos, KE have to pay Rs23.30/unit

Provinces’ power sector schemes: Rs8.11bn approved by ECC

Opec+ likely to maintain oil output levels

Attack on diplomat: FO declines to confirm reports about suspect’s arrest

England set Pakistan 343-run target in first Test

PTI Sindh MPAs hand in their resignations

Pakistan ‘ever ready’ to take fight back to enemy: COAS responds strongly to India’s belligerence

IK says will dissolve assemblies ‘very soon’