Consider the following statements:

India is a member of the International Grains Council.
A country needs to be a member of the International Grains Council for exporting or importing rice and wheat.

Which of the statements given above is/are correct?

(a) 1 only

(b) 2 only

(d) Neither 1 nor 2

Correct Answer: (a) 1 only

Statement 1: India is a member of the International Grains Council. This statement is correct. India is indeed a member of the International Grains Council (IGC).
Statement 2: A country needs to be a member of the International Grains Council for exporting or importing rice and wheat. This statement is incorrect. There is no requirement for a country to be a member of the IGC to export or import rice and wheat .

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International Grains Council (IGC):
- Establishment: The IGC was established in 1949 as the International Wheat Council and was renamed in 1995 under the Grains Trade Convention .
- Objectives:
  - Promote international cooperation in the grains trade.
  - Enhance market transparency through information-sharing, analysis, and consultation on market and policy developments .
  - Monitor market conditions for grains, rice, and oilseeds on a daily basis.
- Functions:
  - Oversee the implementation of the Grains Trade Convention.
  - Discuss current and prospective grain market developments.
  - Monitor changes in national grain policies and their market implications .
- Membership:
  - Comprises major grain-producing and consuming countries.
  - Members are designated as importers or exporters based on their average trade in grains, rice, and oilseeds.
- Key Activities:
  - Grains and Oilseeds Index (GOI): Provides daily updates on international grain and oilseed prices .
  - Grain Market Report: Monthly publication reviewing the situation and outlook for various grains and oilseeds.
  - Annual IGC Grains Conference: A public forum for discussion among international buyers, sellers, industry representatives, and policymakers .
- Role in Food Security:
  - Provides forecasts and statistics to help countries plan for food security and stabilize prices in volatile markets.
  - Coordinates international responses during food crises or emergencies.
- Collaborations:
  - Engages with other international bodies like the World Trade Organization (WTO) and the Food and Agriculture Organization (FAO).
  - Part of the Secretariat of the Agricultural Market Information System (AMIS), promoting food market transparency and policy coordination .