International Grains Council (IGC)
| Section | Details |
|---|---|
| Introduction | – Established: 1949 as the International Wheat Council; renamed International Grains Council (IGC) in 1995. – Objective: Administers the Grains Trade Convention (GTC), promoting market expansion, fairness, and stability in the grains sector to enhance global food security. |
| Objectives | – Promote international cooperation on grain trade. – Enhance transparency through timely and comprehensive market data. – Support market stability by monitoring global supply and demand. – Strengthen food security through reliable grain supply management. |
| Members | – Exporting Members: Argentina, Australia, Canada, European Union (EU), India, Kazakhstan, Russian Federation, Serbia, Turkey, Ukraine, United States of America (USA). – Importing Members: Algeria, Côte d’Ivoire, Cuba, Egypt, Iran, Iraq, Japan, Kenya, South Korea, Morocco, Norway, Oman, Pakistan, Saudi Arabia, South Africa, Switzerland, Tunisia, Vatican City. |
| Reports/Indices | – Grain Market Report (GMR): Monthly updates on global grain supply and demand. – Grains and Oilseeds Index (GOI): Daily international prices of grains and oilseeds. – Freight Rates Report: Shipping cost insights affecting grain trade. – Supply & Demand Data: Statistics on production, consumption, and trade of grains, rice, and oilseeds. – Five-Year Global Projections: Long-term forecasts for supply and demand of key agricultural commodities. |
| Instruments | – Grains Trade Convention (GTC) 1995: Legal framework guiding the IGC’s operations. – Food Assistance Convention (FAC) 2013: Focuses on global food aid commitments. |
| Structure | – Council: Principal decision-making body comprising member countries. – Secretariat: Executes Council directives and manages daily operations. – Executive Director: Leads the Secretariat (current: Arnaud Petit). |
| Subsidiary Organs | – Food Assistance Committee: Oversees the Food Assistance Convention’s implementation. |
| Committees | – Market Conditions Committee (MCC): Reviews global grain market situations. – Administrative Committee: Manages budgetary and administrative matters. – Budget Committee: Focuses on financial planning and resource allocation. |
| Initiatives | – Grains and Oilseeds Index (GOI): Tracks price variations of grains and oilseeds daily. – Agricultural Market Information System (AMIS): Enhances transparency in grain markets for wheat, maize, rice, and soybeans. – High-Level Dialogues on Trade and Food Security: Facilitates collaboration between producing and importing countries to improve food system resilience. – Market Monitoring Projects: Includes mapping port connectivity, monitoring port congestion, analyzing market volatility, and improving rice market transparency. – Trade and Food Security Assessment: Develops indicators to evaluate the importance of trade for global food security. |
