Food Assistance Convention

2nd July 2026

PRESS RELEASE

The 23rd FAC Session was held on Wednesday 1st July 2026 under the Chairpersonship of Mr. Max Lamesch, Director of Humanitarian Affairs, Ministry for Foreign Affairs and Europe, Luxembourg.

Parties of the Convention, namely, Australia, Austria, Canada, Denmark, the European Union, France, Japan, Korea (Rep. of), Luxembourg, Russia, Slovenia, Sweden, Switzerland and the United States of America participated in the session.

The Committee reviewed the global situation regarding hunger and malnutrition and current food emergencies against the backdrop of recent developments including the outlook for world markets for grains, rice, oilseeds.

The IGC Secretariat provided members with an update on grains, rice and pulses supply forecasts for the coming season, and on the latest market developments. Although elevated fertiliser costs and a strong El Nino weather event pose downside risks for 2026/27 production prospects, most notably in the southern hemisphere and for Asia's rice crops, some offsetting pressure on FOB prices is coming from positive stock levels. Moreover, the IGC GOI index is currently well below recent peaks and at the same level as December 2014. The Council also provided an update on maritime freight markets and the latest situation at the Persian Gulf. Despite geopolitical tensions and elevated fuel values, maritime logistics are responding to global demand, with international trade in grains set to expand in 2025/26.