Former World Bank chief urges China to release food and fertilizer stockpiles

David Malpass, who led the World Bank from 2019 to 2023, told the BBC that China holds the world’s largest inventories of food and fertilizer and could halt further accumulation. He spoke ahead of a planned Trump‑Xi summit, noting that Beijing’s export curbs on several fertilizer types since March have tightened global supplies ahead of spring planting. He also questioned China’s self‑description as a developing country, noting its status as the world’s second‑largest economy.

China produced roughly 25 % of the world’s fertilizer last year and exported more than $13 billion worth, underscoring its outsized role in the market. Despite those shipments, Beijing says it remains committed to keeping global food and fertilizer markets stable, according to a spokesperson for its embassy in Washington. Since March, China has suspended exports of certain fertilizer products, citing domestic supply protection, a move that has amplified concerns among importing nations.

Releasing even a fraction of China’s reserves could ease price pressures on grains and crops that rely on fertilizer, potentially lowering costs for farmers worldwide. Such a release could also ease upward pressure on food prices, which have been rising amid tighter input costs. The next signal to watch is any official statement from Chinese authorities on stockpile levels or export quotas ahead of the summer planting season.