New York: External Affairs Minister S. Jaishankar has warned that the world is likely to face a "major food crisis" in the coming months, as conflicts disrupt grain and fertiliser supplies and a strong El Niño threatens harvests. He said the pressures are falling hardest on the economies of the Global South.
What Jaishankar Said
Speaking at a conversation hosted by the Asia Society in New York on Monday, September 28, Jaishankar said: "We are today looking at a situation where some of the major grain exporters will not be able to send out their shipments, particularly out to the Black Sea." He added that the world was already seeing significant fertiliser shortages because key producers in West Asia and Russia had seen their output affected by the conflicts in Ukraine and the Gulf.
Combined with the impact of a super El Niño, he said, "there is going to be a major food crisis probably in the coming months." He also pointed to financial pressure, noting that during conflicts money tends to move towards "safe harbours" and away from the Global South. Taken together, he described the situation as "very very stressful" for developing economies.
The "4F Crisis"
Jaishankar made similar remarks in his address to the UN General Assembly on Saturday, saying the Global South faces "a 4F crisis of the security of food, fuel, fertiliser, and finance." In that speech, he also highlighted India's assistance to other developing countries, including support during shortages of food, medicine, energy and fertiliser.
What It Means for India
Jaishankar's remarks were framed around the Global South as a whole rather than India specifically. However, price pressures are already visible at home: according to a Business Today report, India's inflation has risen to 4.8%, with Brent crude trading above $100 a barrel.
Sources
Kashmir Observer, Business Today, The Hans India, Free Press Kashmir, inkl.