Trade

As of today (Dec. 10), the dispute settlement mechanism of the World Trade Organization (WTO) has been crippled, as its Appellate Body (AB) has been left with less than three members on the seven-member body. The U.S. government has blocked the WTO from appointing new members, leaving the AB without the minimally required number of judges to hear appeals in trade disputes.

Unsafe food poses a significant threat to human health and well-being and can hamper agricultural transformation, market integration, and economic development. Populations in low- and middle-income countries are often hardest hit by the effects of unsafe food, with countries in South Asia, Southeast Asia, and Africa south of the Sahara accounting for 53 percent of all foodborne illnesses and 75 percent of related deaths.

As the world strives to feed a growing population in the face of declining natural resources and ongoing food security crises, commitment from policymakers to a sustainable food future is more important than ever. Argentina’s G20 Presidency has set sustainability and food security as a top priority for this year’s upcoming Ministerial Meeting, and these priorities were also focus of the recent T20 (Think 20) Summit, held in Buenos Aires in September 2018.

The FAO Food Price Index declined somewhat in September, falling 1.4 percent from August to an average of 165.4 points. This represents a 7.4 percent decline from September 2017 levels.

The Cereal Price Index fell by 2.8 percent from August. Maize prices saw the most significant month-to-month reduction, falling by around 4 percent due to ample global supplies and prospects for a large U.S. crop. Wheat prices also declined in September due to strong exports from Russia. Rice prices experienced the smallest decline (1 percent) due in part to an appreciation of the Thai Baht.

After many years of rapid growth, serious trade tensions have emerged between the United States and China. Since open trade is key to avoiding significant economic and environmental costs and help ensuring food security and nutrition, the ongoing trade conflicts have the potential for disastrous outcomes, as China and the US are key players in global agricultural trade.