Established in 1949, the IGC is an intergovernmental organisation whose objectives are to further international cooperation in trade, promote expansion, openness and fairness in the sector and to contribute to market stability and enhance world food security. Currently, IGC membership comprises 56 countries. Such objectives are sought by improving market transparency through information-sharing, analysis and consultation on market and policy developments. Grains, rice, pulses and oilseeds market conditions are monitored on a daily basis, through the circulation of daily reports and maintaining web-based information services. Among other key services, weekly and monthly reports are accessible under subscription. The flagship Grain Market Report, released monthly, provides comprehensive analysis and forecasts for global supply and demand across a range of commodities, spanning grains, rice, oilseeds and pulses.
The IGC also actively collaborates with several other international organisations, such as the International Sugar Organization (ISO), the United Nation’s Food and Agricultural Organization (FAO), as part of the AMIS-G20 secretariat, the World Trade Organization (WTO) and the Organisation for Economic Cooperation and Development (OECD). Furthermore, since 2018, the IGC has developed relationships with regional organisations, such as Med-Amin, the Eurasian Economic Commission, AfricaRice.
For several years, the IGC has reoriented its annual international event to be a platform for dialogue between policy makers and private operators throughout the entire grain value chain. This shift in focus has made it possible to broaden its target audience by involving companies across myriad related sectors, spanning, for example, production, trade, shipping and logistics, as well banking and finance. The last event brought together 400 participants from 60 countries, including 35% from Europe, 25% from the Americas, 15% from Asia and 10% from Africa.
The Conference receives good coverage in specialised international media. In 2021, 23 journalists registered for the conference, including from Refinitiv, the Financial Times, Bloomberg and a range of other leading outfits. In total, an estimated 20,000 tweets were linked to the event itself.
Grain Market Report (GMR)