Former World Bank Chief David Malpass Urges China to Halt Food, Fertilizer Stockpiling Amid Global Supply Crisis

Former World Bank President David Malpass has said that China should stop increasing its stockpiles of food and fertilizer in order to help ease the global supply crisis worsened by the ongoing Iran conflict.

Speaking to the BBC World Service program World Business Report, Malpass said China currently holds the world’s largest reserves of food and fertilizer.

“They have the largest food and fertilizer stockpiles in the world. They could stop expanding those reserves,” he said.

Malpass, who also served as Under Secretary of the Treasury for International Affairs under US President Donald Trump from 2017 to 2019, made the remarks as countries worldwide struggle to secure fertilizer supplies following disruptions linked to tensions around Strait of Hormuz.

According to reports, supply chains have been severely affected by instability in the region, increasing pressure on global food and agricultural markets.

China has suspended exports of several types of fertilizer since March, saying the move was necessary to protect domestic supplies. The latest restrictions build on a series of export controls gradually introduced since 2021.

Last year, China accounted for nearly 25 percent of global fertilizer production, while its fertilizer exports exceeded $13 billion.

Malpass also questioned China’s continued classification as a developing country, arguing that the label is no longer credible.

“They present themselves as a developing country, yet they are the world’s second-largest economy and wealthy in many respects,” he said.

He added that China continues to maintain developing-country status within the World Trade Organization and the World Bank, despite being capable of suspending that designation voluntarily.

Responding to the criticism, Liu Pengyu, spokesperson for the Chinese Embassy in Washington, said in an email statement that China remains committed to maintaining stability in global food and fertilizer markets.

“The root causes of current disruptions in global food and fertilizer supply chains are clear, and the responsibility cannot be placed on China,” Liu said.

Addressing Malpass’s comments on China’s developing-country status, Liu argued that China is widely recognized as the world’s largest developing nation based on “substantial factual evidence.”

“Maintaining developing-country status is China’s legitimate right,” he added.

Malpass also expressed hope that China would help resolve tensions surrounding the Strait of Hormuz, noting that freedom of navigation is critical to Beijing’s own economic interests.

“China benefits from open global waterways. They operate shipping lines, own containers, and profit enormously from global trade. If Iran were somehow to control the Strait of Hormuz, China itself would suffer greatly,” he said.