WHAT

International Grains Council (IGC) is an inter-governmental organisation that administers the Grains Trade Convention (GTC). Grains Trade Convention is the only international treaty covering trade in grains, rice and oilseeds trade.

The International Grains Agreement (IGA) is an international agreement focused on the grain trade which replaced the International Wheat Agreement (1995). IGA comprises of a Grains Trade Convention (GTC) and a Food Aid Convention (FAC).

The IGA is administered by the International Grains Council (IGC), an intergovernmental forum for cooperation on wheat and coarse grain matters however a country does not necessarily require to be a member of International Grains Council for exporting or importing food grains. 

International Wheat Council as established by the International Wheat Agreement, 1949 was renamed as International Grains Council by the Grains Trade Convention, in 1995. It is located in London.

Functions of International Grains Council 

1. Promoting International Cooperation: The IGC facilitates cooperation between member governments and the grains industry. It fosters collaboration on issues related to trade, policy, and market stability. 
2. Promoting Openness and Fairness: The IGC encourages the removal of barriers to trade and aims for a fair and transparent market. It promotes equitable access to grain markets for all countries. 
3. Contributing to Market Stability: The IGC monitors grain market conditions, including prices, supply, and demand, to identify potential risks and opportunities. It provides information and analysis to help member governments and the industry understand and navigate market volatility. The IGC aims to reduce market distortions and promote sustainable trading practices. 
4. Enhancing World Food Security: The IGC contributes to ensuring a stable and accessible food supply for all countries. It promotes the efficient use of grain resources and encourages investment in grain production and storage. 
5. Provides independent and authoritative information on global grain, rice, oilseeds, and pulses market developments. 
6. Administers the Grains Trade Convention, which is a key international agreement on grain trade. 
7. Conducts research and analysis on various aspects of the global grains economy. 
8. Organizes conferences and other events to facilitate dialogue and collaboration among stakeholders. 

Membership of IGC consists of all parties to the Grain Trade Convention, 1995 with 30 countries as members. Each member is designated as an importer or exporter based on its average trade in grains, rice and oilseeds.

India is a member of this organisation. Department of Food & Public Distribution under Ministry of Consumer Affairs, Food & Public Distribution Acts as the nodal agency on behalf of government of India in International Grains Council. Chairperson and Vice-Chairperson of this council are elected annually by the council.

Initiatives of the International Grains Council

1. Grains & Oilseeds Index: An index developed by International Grains Council which provides daily updates on variation of prices of commodities covered by International Grains Council.
2. Grain Market Report: It is a monthly publication that reviews the situation and outlook for wheat (including durum), maize (corn), barley, sorghum, oats, rye, rice, soybeans, soy meal and rapeseed/canola markets
3. Agricultural Market Information System (AMIS): International Grains Council joined the Secretariat of Agricultural Market Information System (AMIS) in 2012.

AMIS was established at the request of Agriculture Ministers of G20. It covers four crops (Wheat, Maize, Rice and Soyabeans). AMIS aims to promote food market transparency and coordination of policy action in response to market uncertainty.