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Former World Bank chief urges China to end food-fertilizer hoarding

5/12/2026

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Summary

Story summary

David Malpass, former World Bank President, urged China to stop hoarding food and fertilizer during an interview on the eve of President Donald Trump and President Xi Jinping summit.
He cited USDA data that China holds 69% of maize, 60% of rice and 51% of wheat reserves and stopped fertilizer exports in March 2026.
Liu Pengyu, Chinese embassy spokesperson, said Beijing is stabilizing markets and denied that China caused the disruptions.

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Story summary

David Malpass, former World Bank President, urged China to stop hoarding food and fertilizer during an interview on the eve of President Donald Trump and President Xi Jinping summit.
He cited USDA data that China holds 69% of maize, 60% of rice and 51% of wheat reserves and stopped fertilizer exports in March 2026.
Liu Pengyu, Chinese embassy spokesperson, said Beijing is stabilizing markets and denied that China caused the disruptions.