China Should Release Food and Fertiliser Stockpiles, Former World Bank Chief Says

BBC Business reported Tuesday that former World Bank President David Malpass is calling on China to release its China fertiliser stockpiles to ease a global supply crunch. He made the remarks ahead of this week’s high-stakes summit between US President Donald Trump and Chinese President Xi Jinping in Beijing.

Malpass Calls Out Beijing’s Hoarding

Speaking to the BBC’s World Business Report, Malpass said China holds the world’s largest reserves of both foodstuffs and fertiliser. He argued Beijing should stop adding to those reserves rather than allowing the shortage to deepen abroad. The comments carry weight. Malpass led the World Bank from 2019 to 2023 and previously served as Treasury Under Secretary for International Affairs during Trump’s first term.

The timing matters. Nations worldwide are scrambling to lock in fertiliser supplies before spring planting seasons begin. The near-closure of the Strait of Hormuz, following the Iran war, has severely disrupted shipments of energy and petrochemicals critical to fertiliser production.

Also Read: Yara CEO Warns Fertiliser Shortage Could Cost 10 Billion Meals Weekly

A Restriction Pattern Years in the Making

China has blocked exports of several fertiliser categories since March, citing the need to protect its own domestic supply. That move built on a series of progressive export restrictions Beijing has imposed since 2021. Last year, China represented roughly 25% of global fertiliser output and shipped more than $13 billion worth overseas.

Svein Tore Holsether, chief executive of fertiliser giant Yara, warned the BBC earlier this month that declining crop yields from reduced fertiliser use could spark a global bidding war for food. The poorest countries, he said, would suffer most.

China Pushes Back, Defends Its Status

The Chinese Embassy in Washington rejected Malpass’s framing. Spokesperson Liu Pengyu said in an emailed statement that China remains committed to stabilising global food and fertiliser markets. He argued the real causes of supply disruption were obvious and that responsibility could not be shifted to Beijing.

Malpass also challenged China’s continued self-identification as a developing nation within institutions like the World Trade Organization and the World Bank. He said that label had lost all credibility for the world’s second-largest economy. Liu rejected the criticism, calling developing-nation status a legitimate right grounded in factual evidence.

On the broader economic picture, Malpass said US prices were likely to rise but that resilient jobs data showed the American economy could absorb the pressure.

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