As global food prices continue to rise and concerns grow over potential supply disruptions in the Black Sea region, policymakers and development practitioners are beginning to analyze the implications for global food markets and the potential for food crises. On March 5, 2022, the Agricultural Market Information System (AMIS) called an extraordinary meeting of the AMIS Rapid Response Forum.
Representatives of AMIS countries (Argentina, Australia, Brazil, Canada, European Union, France, Germany, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russian Federation, Spain, Turkey, United Kingdom, Ukraine, and the United States) reviewed current global commodity prices, supply, and demand, as well as potential future scenarios. They examined the global market share of the Russian Federation and Ukraine for key commodities, including wheat, maize, and sunflower oils and discussed potential impacts on fuel and fertilizer markets.
As an outcome of the discussion, the representatives of the AMIS Rapid Response Forum agreed on the following statement:
In line with the agreed mandate of the G20 Agricultural Market Information System (AMIS), we agree to continue sharing reliable data and information on global food market developments and stress the importance of ensuring the smooth functioning of global food markets, including through avoiding any measures that would disrupt global food trade and negatively affect global food security.
The AMIS Rapid Response Forum was established in 2011 by the G20 Ministers of Agriculture to promote early discussion among policymakers about critical global food market conditions and to encourage the development of coordinated policies and strategies to respond to those conditions. The group meets once per year, with extraordinary sessions held as needed to address significant market events.