By Gleb Bryanski MOSCOW, April 13 (Reuters) - Russia, the world's largest wheat exporter, should create joint food reserves with fellow BRICS members and former Soviet neighbours to counter the risks
Russia Proposes BRICS Joint Food Reserves Amid Middle East Crisis Risks
Russia's Strategy for Food Security and Global Supply Risks
By Gleb Bryanski
Background: Middle East Conflict and Global Food Security
MOSCOW, April 13 (Reuters) - Russia, the world's largest wheat exporter, should create joint food reserves with fellow BRICS members and former Soviet neighbours to counter the risks to global food security stemming from the conflict in the Middle East https://www.reuters.com/world/iran/, a senior Russian security official said on Monday.
Impact of Fertilizer Trade Disruptions
About half of the world's food is grown using fertilizer, while one-third of global fertilizer trade used to pass L1N4040JW through the Strait of Hormuz, a narrow shipping lane along Iran's coast that has been largely closed since the conflict began.
Russian Security Council's Proposal
Joint Food Reserves with BRICS and Eurasian Economic Union
"To ensure food security, it is highly important to expand cooperation with friendly countries, primarily the member states of the Eurasian Economic Union and BRICS, including through the creation of joint food reserves," Alexander Maslennikov, deputy secretary of Russia's Security Council, was quoted as saying by domestic news agencies.
Role of the Security Council and Upcoming Meetings
Chaired by President Vladimir Putin, the Security Council includes top officials and helps shape Kremlin decisions on major national security issues. Putin is due to meet L4N40U03T BRICS member Indonesia's President Prabowo Subianto in the Kremlin on Monday with food security likely to feature on the agenda.
Risks and Opportunities for Russia
Potential Global Food Crisis
Maslennikov said the Middle East crisis posed serious risks to global food security. If the global fertilizer shortage persists until early summer, yields of major crops could fall by half, he said, fuelling the sharpest rise in world food inflation in recent years.
He added that the number of hungry people worldwide could rise to a record 673 million.
Warnings from Global Institutions
The World Bank, International Monetary Fund and the U.N. World Food Programme warned L1N40R0T8 last week that sharp increases in oil, natural gas and fertilizer prices triggered by the war in the Middle East will inevitably cause rising food prices and food insecurity.
Russia's Position in Global Agriculture
Russia is a major producer and exporter of fertilizer but lacks the capacity to significantly increase output this year. It is also seeking to raise agricultural exports by half by 2030.
Maslennikov said the current situation, while posing risks to Russia's own food security, also created long-term opportunities for the country's agricultural producers.
Export Opportunities to BRICS and Beyond
"Russia is in a strong position to increase food exports to the countries of the Middle East, as well as to Asia, Africa and Latin America," he said.
Egypt, a BRICS member, is the largest importer of Russian wheat, while Russia also exports food to China and India, the bloc's two biggest economies. The Eurasian Economic Union, led by Russia, also includes grain exporter Kazakhstan, as well as Belarus, Armenia and Kyrgyzstan.
(Reporting by Gleb Bryanski; Editing by Hugh Lawson)
