Former World Bank Chief Calls on China to Release Food and Fertiliser Stockpiles

BBC Business reported Tuesday that former World Bank president David Malpass has publicly called on Beijing to stop accumulating food and fertiliser reserves. He made the remarks to the BBC’s World Business Report ahead of a landmark summit between US President Donald Trump and Chinese President Xi Jinping.

Global Supply Squeeze Drives Malpass Warning

Malpass argued that China’s China fertiliser stockpiles represent the largest such reserves anywhere in the world. He urged Beijing to halt further accumulation rather than continue building reserves at a time of acute global scarcity. Nations across multiple continents are scrambling to lock in fertiliser supplies before spring planting seasons begin. The disruption stems largely from the closure of the Strait of Hormuz following the Iran war, which has severely curtailed shipments through one of the world’s most critical maritime chokepoints.

China suspended exports of several fertiliser categories in March, citing the need to protect its own agricultural sector. Those restrictions compound a series of export curbs Beijing has applied incrementally since 2021. Last year, China accounted for roughly a quarter of global fertiliser production, with exports exceeding $13 billion annually.

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Beijing Pushes Back on Accusations

The Chinese embassy in Washington rejected Malpass’s framing. Spokesperson Liu Pengyu told the BBC that Beijing remains committed to stabilising global food and fertiliser markets. Liu argued the real source of current supply disruptions is evident to all parties and that responsibility cannot be redirected toward China.

Malpass also challenged Beijing’s longstanding designation as a developing country within institutions such as the WTO and the World Bank. He described the label as a pretence for an economy that ranks second in the world by size. Liu countered that the designation is both universally recognised and grounded in factual evidence, calling it a legitimate right China is entitled to uphold.

Hormuz Deadlock and the US Economic Outlook

Malpass expressed cautious optimism that Beijing could play a constructive role in resolving the Hormuz standoff. He argued open sea lanes serve China’s direct economic interests, given its dominance in global shipping and container ownership. Trump described the Iran ceasefire on Monday as being on fragile footing.

Looking ahead to Tuesday’s US inflation data for April, Malpass said prices are likely to move higher on a range of goods. He acknowledged, however, that strong jobs figures point to underlying resilience in the American economy.

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