Moscow [Russia], November 17 (ANI): The global food crisis continues to deepen, with new World Bank data showing significant increases in food insecurity and inflation across low-income regions. Experts note that BRICS nations, already major agricultural producers, are now positioned to play a pivotal role in stabilizing food prices and improving access to essential commodities, according to TV BRICS. A proposed BRICS grain exchange—intended to establish independent price indicators and streamline trade—has become a central component of this effort.
Food insecurity remains one of the world’s most enduring challenges. Although global food production generates sufficient calories, experts emphasize that distribution, affordability, and equitable access continue to fall short. The World Bank’s Global Report on Food Crises 2024 found that by July 2024, “around 99.1 million people in 59 countries faced acute food shortages, hunger, and forced migration.” Rising food inflation has also left 2.6 billion people unable to afford a balanced diet, TV BRICS reported.
Within this context, BRICS nations—responsible for more than one-third of global food production and over 40 percent of fertilizer output—have become central to international food security discussions. Expert Lubarto Sartoyo noted, “The BRICS countries are a pillar of global food security, more than 45 percent of the world’s agricultural land, over 40 percent of grain and meat production, more than 35 percent of rice, 30 percent of maize, and over 25 percent of wheat.”
As reported by TV BRICS, the proposed grain exchange, backed by BRICS ministers in April 2025, aims to consolidate 30–40 percent of the global supply of key crops. Russian Deputy Prime Minister Dmitry Patrushev has emphasized that the platform will enhance food security while facilitating direct trade between exporters and buyers in the Global South.
However, the initiative faces several challenges, including infrastructure demands, the need for an independent settlement mechanism, and the development of competitive pricing structures. According to Sartoyo, “The main challenge will not be the global shortage of food, but its economic and physical accessibility for the poorest segments of the population.”
Experts remain cautiously optimistic. They say strengthened BRICS cooperation, expanded logistics, and new trade mechanisms could reshape global food markets and significantly influence the quality of life for millions. (ANI)
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