Sources confirm that the G20 has convened an emergency session behind closed doors in New Delhi. The agenda: a global food supply chain on the verge of collapse. Documents obtained by this newsroom reveal a stark warning from the World Food Programme: strategic grain reserves are at critical lows.
Four of the world's top five fertiliser exporters have slashed output. The Black Sea grain corridor is effectively dead. The numbers are damning.
Global wheat stocks are down 12% year on year. Maize is down 9%. Rice: 14%.
The price of bread has risen 40% in developing nations since January. The G20 communique, a draft of which I have seen, calls for 'immediate actions to stabilise markets'. But the fine print is telling.
There are no binding commitments. There is no joint fund. There are only promises to 'explore mechanisms'.
In plain language: no one is willing to pay. The real story is the corporate stranglehold. Four companies control 70% of global grain trade: Archer Daniels Midland, Bunge, Cargill, Glencore.
Their quarterly filings show record profits. The hunger crisis is a profit centre. My sources inside the summit confirm that a proposal to cap margins on staple foods was killed before it reached the agenda.
Lobbyists from the fertiliser cartels are sitting in the corridors. This is not a shortage. This is a redistribution.
The poor will starve. The conglomerates will cash in. The G20 will issue a statement full of fine words.
Then the next crisis will hit. And we will do this all over again.
