The G20 Presidency Must Be Able To Reduce The Risk Of A Global Food Crisis

JAKARTA - Director of the Center of Economic and Law Studies (Celios) Bhima Yudhistira assesses that the G20 Presidency of Indonesia must be able to reduce the risk of a global food crisis.

According to Bhima, the main challenge currently being faced is protectionism by many countries, including G20 member countries or observer countries in the G20.

"The challenge is protectionism. Currently, many countries have secured their stocks domestically so that they have imposed export restrictions. This must be resolved at the G20. The G20 presidency should be able to make efforts to normalize trade," Bhima said as quoted by Antara, Wednesday, June 22.

Bhima assessed that protectionism is very detrimental to many countries. For example, Indonesia, which still imports 100% of wheat, will be greatly affected by restrictions on wheat exports from India and the war in Ukraine.

"So when Ukraine experiences war, then a country like India imposes restrictions on wheat, then it can have an impact on inflation in Indonesia," he said.

In addition to normalizing and reducing protectionism, the G20 Presidency also needs to strengthen financing infrastructure in the food and agriculture sectors, including the fiscal incentives needed to boost food productivity.

"So how can farmers access inclusive financing with relatively cheap or affordable interest rates, and that agricultural technology can also be encouraged," he said.

According to Bhima, another effort that can be encouraged to reduce the risk of a global food crisis is to encourage G20 countries to be able to develop alternative foods.

"So in addition to reducing protectionism, it is also necessary to diversify food among G20 countries," he said.

Bhima added that the three efforts were urgent to be carried out immediately. Especially now that global food prices are starting to rise.

"This is urgent, urgent, a solution must be found," concluded Bhima.