Kommersant: Export restrictions raised grain prices by 6-12% globally

Published 2022년 7월 8일

Tridge summary

From January to May 2022, World Bank analysts noted a significant increase in food and fertilizer export restrictions, reaching 74 across 34 countries, with many of these restrictions being a response to the ongoing crisis in Ukraine. This surge in restrictions mirrors the one seen during the 2008-2012 food crisis. The World Bank warns that such restrictions often cause the most harm to the poor, leading to increased rates of malnutrition and children dropping out of school. By early June, 22 countries, accounting for 21% of global grain trade, had imposed restrictions on wheat exports, contributing to a 9% rise in prices. Similarly, restrictions on other agricultural products such as rice, corn, and soybean oil have also driven up prices.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

As part of the Global Trade Alert monitoring, World Bank analysts have calculated that the number of announced and/or imposed export restrictions in food and fertilizer trade from January to May 2022 reached 74 (or 98, taking into account those that have expired during this period). Thirty-four countries imposed restrictions amid the crisis in Ukraine, almost as many as during the much longer food crisis of 2008-2012 (36 countries). The World Bank notes that export restrictions harm primarily the poor - for example, during the crisis of 2008-2012, the number of regularly malnourished children increased sharply. This, in turn, led to an increase in the proportion of children from the poorest families who had to drop out of school. According to the WB, by the beginning of June, 22 countries, which account for 21% of world grain trade, had already introduced restrictions on wheat exports. This accelerated the rise in prices for it by 9%. More than others, the countries to which wheat ...

Source: Milknews