Grain, fuel, fertilizer prices jump: G7 ministers concerned about war's impact on food security

According to Kyodo, the G7 ministers agreed on a communique on Sunday after a two-day meeting in Miyazaki, Japan.

Their statement expressed deep concern about the devastating impact of the war on global food security, particularly due to rising prices of grain, fuel, and fertilizers, which disproportionately affect vulnerable populations. The ministers acknowledged that the conflict has exacerbated food insecurity, which is further complicated by climate change and biodiversity loss, negatively affecting crops, water, and soil fertility.

To address the numerous challenges faced by global food systems, the ministers announced the Miyazaki Action Plan. The plan aims to overcome short-term challenges caused by the war in Ukraine and the COVID-19 pandemic while also achieving long-term goals of reducing greenhouse gas emissions and preserving biodiversity. The plan includes diversifying supply chains, identifying ways to improve local, regional, and global food systems, promoting sustainable use of agricultural resources, and increasing trade.

• Recently, it was reported that some of Ukraine's key allies, such as the United States, are considering banning nearly all exports to Russia.