Key insights
- The U.S. is leading a G20 initiative to ensure fertilizer access and prevent disruptions in food supply chains. This aims to mitigate potential inflationary pressures and food security risks, which could indirectly support market stability by reducing economic uncertainty.
WASHINGTON, April 17 (Reuters) - The U.S., current chair of the Group of 20 major economies, is urging G20 members and the International Monetary Fund and World Bank to take coordinated action to ensure fertilizer access and a buffer against disruptions in food trade supply chains, two sources familiar with the matter said on Friday.
U.S. Treasury Secretary Scott Bessent viewed fertilizer and agriculture supply chains as of essential importance, and was encouraging collaboration among G20 members, alongside the International Monetary Fund and the World Bank, the sources said on condition of anonymity.