G20 trade ministers reach consensus on food weaponization as Goyal flags food security concerns

G20 trade ministers have agreed to a statement opposing the use of food as a weapon through trade measures, reflecting a consensus on a matter increasingly tied to geopolitical tensions and supply chain disruptions. India's commerce minister, Piyush Goyal, urged nations to safeguard food security while ensuring domestic actions to stabilize supplies and prices are not viewed as trade distortions.

The agreement follows a G20 Trade Ministers’ Meeting in Milwaukee, addressing the ongoing challenges faced by developing economies due to conflicts disrupting markets for food, fuel, and fertilizers. Goyal emphasized that India's temporary food stock and procurement measures aim to maintain food availability and reiterated support for the World Trade Organization's trading system, advocating for increased policy flexibility for developing countries.

The ministers adopted the "G20 Statement on the Weaponization of Food through Coercive Trade Actions" and pledged continued cooperation, referencing existing mechanisms like the G20 Agricultural Market Information System and the exemption from export restrictions for the World Food Programme. Goyal, on a week-long visit to the US, also discussed the India-US trade relationship and ongoing negotiations for an interim agreement during the meeting.