2 October :India’s External Affairs Minister S Jaishankar has warned that ongoing wars and geopolitical tensions, including the US-Iran conflict, could trigger a major food crisis across South and Southeast Asia in the coming months.
Speaking at an open discussion organised by the Asia Society in New York on Monday, Jaishankar said conflicts in Ukraine and the Middle East were putting increasing pressure on global supplies of fuel, fertiliser and food grains. He said the impact was being felt most severely by developing countries in the Global South.
According to Jaishankar, the war in Ukraine and the ongoing conflict involving Iran and the Gulf region are having a highly adverse impact on emerging economies. He said global supply chains were simultaneously facing energy-related and geopolitical pressures.
Addressing the oil market, the Indian foreign minister said ensuring energy security had become increasingly difficult as international politics was also influencing the global oil trade. He warned that using energy markets for political purposes could further intensify instability.
Jaishankar also expressed concern over the situation in the Black Sea region and its impact on food grain and fertiliser supplies. He said several major grain-exporting countries were facing difficulties in sending their products to international markets because of the war. At the same time, disruptions in important fertiliser-producing regions, including the Middle East and Russia, could put agricultural production at risk.
He said the food security situation could become even more serious if adverse climate conditions were added to these pressures. “A huge food crisis is going to be created in the coming months,” Jaishankar said.
He added that shortages of food and fertiliser, together with energy and capital constraints, could pose major challenges for developing countries. In the event of a major conflict, investment capital tends to move towards safer markets, increasing the risk of capital outflows from countries in the Global South.
Jaishankar said the combined effect of these factors could leave poorer and developing countries facing an extremely difficult situation.
Source: ANI