Russia proposes joint BRICS food reserves for security
Russia proposes joint food reserves with BRICS members to mitigate supply risks. The plan aims to stabilize markets amid fertilizer shortages and rising prices.
Russia, the world’s largest exporter of Wheat, has proposed the establishment of joint food reserves with fellow BRICS members and former Soviet neighbors. The initiative is designed to mitigate global food security risks stemming from the ongoing conflict in the Middle East and disruptions to critical trade routes.
About half of the world's food production depends on fertilizers, yet one-third of the global fertilizer trade previously relied on the Strait of Hormuz. This narrow shipping lane along the coast of Iran has seen significant operational challenges since the regional conflict intensified. Alexander Maslennikov, deputy secretary of the Russian Security Council, emphasized the need for closer ties with regional partners to stabilize supply chains.
