Moscow [Russia]: The global food crisis continues to intensify, with new World Bank data showing sharp increases in food insecurity and inflation across low-income regions.
Experts say BRICS nations, already major agricultural powerhouses, are now positioned to play a decisive role in stabilising food prices and improving access to essential commodities, TV BRICS reported.
A proposed BRICS grain exchange, expected to create independent price indicators and streamline trade, has emerged as a central element of this effort.
Food insecurity remains one of the world’s most persistent challenges. Despite producing enough calories globally, experts note that delivery, affordability and fair distribution continue to lag.
The World Bank’s Global Report on Food Crises 2024 found that by July 2024, “around 99.1 million people in 59 countries faced acute food shortages, hunger and forced migration.” Rising food inflation has also left 2.6 billion people unable to afford a balanced diet, TV BRICS noted.
It further mentioned that within this context, BRICS nations, responsible for more than one-third of global food production and over 40 per cent of fertiliser output, have become central to global food security discussions.
As expert Lubarto Sartoyo noted, “The BRICS countries are a pillar of global food security, more than 45 per cent of the world’s agricultural land, over 40 per cent of grain and meat production, more than 35 per cent of rice, 30 per cent of maize and over 25 per cent of wheat.”
As reported by TV BRICS, the proposed grain exchange, supported by BRICS ministers in April 2025, aims to consolidate 30-40 per cent of global supply in key crops. Russian Deputy Prime Minister Dmitry Patrushev has emphasised that the platform will enhance food security and facilitate direct trade between exporters and buyers in the Global South.
However, the initiative faces hurdles including infrastructure needs, an independent settlement mechanism and competitive pricing structures.
According to Sartoyo, “The main challenge will not be the global shortage of food, but its economic and physical accessibility for the poorest segments of the population.”
Experts remain cautiously optimistic. Strengthened BRICS cooperation, expanded logistics and new trade mechanisms, they say, could help reshape global food markets and determine the quality of life for millions.
(With inputs from ANI)
