G20 platform highlights need for transparency in global food markets

Trade
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Yi Xiaozhun Deputy Director-General | World Trade Organization

AMIS, an inter-agency platform initiated by G20 agriculture ministers in 2011, is focused on enhancing transparency in food markets and improving policy responses to food insecurity. The platform includes G20 members, Spain, and eight other significant agricultural countries, representing a large portion of global production and trade volumes for key crops.

Edwini Kessie, Director of the WTO's Agriculture and Commodities Division, emphasized AMIS's critical role during a recent meeting. “In a more volatile market and policy environment, stable and predictable trade is more important than ever before,” he stated. Mr. Kessie noted that AMIS was acknowledged in the 2022 WTO declaration on food security, highlighting the importance of sharing information on policies affecting food markets.

The WTO aids AMIS through regular policy monitoring in collaboration with the Organisation for Economic Cooperation and Development (OECD) and other Secretariat members. Additionally, it works with the International Grains Council (IGC) on a wheat maritime trade database to provide real-time data.

In April, WTO members approved a report on trade and food security following initiatives from the food security declaration. This report suggested that the AMIS Secretariat should enhance connections with regional economic institutions to improve data collection and analysis.

Despite no specific outcomes on agriculture at the 13th Ministerial Conference, Mr. Kessie affirmed that the WTO Secretariat continues supporting efforts to strengthen global food markets' resilience.

Donald Boucher (Canada), Chair of AMIS, remarked on the platform's growing recognition among governments and market participants. “It was heartening to see G-20 agriculture ministers recognise the 'invaluable' role of AMIS in providing robust, reliable and transparent market analyses of staple commodities, vegetable oils and fertilizers,” he said. He urged continued contributions from countries and agencies to support AMIS.

Dominique Bourgeon from the UN Food and Agriculture Organization (FAO) praised AMIS's contributions: “AMIS has been playing a valuable role by providing timely and credible assessments of supply and demand dynamics; reducing information asymmetry; promoting policy coordination and responses; and providing a platform for dialogue.” The FAO hosts the AMIS Secretariat at its Rome headquarters.

During the two-day meeting, participants discussed updates on global food markets' developments along with related research findings.

Further details about AMIS can be found online. Interested individuals can subscribe to "News Harvest," a monthly news round-up from WTO focusing on food policy trade issues.