The number of countries globally that have restricted food exports has increased
Published May 17, 2022
Tridge summary
The planet has entered an “era of food protectionism,” with some countries already banning or restricting large food exports to protect their stocks amid rising inflation, Businessinsider reports. Thus, Russia and Ukraine imposed restrictions on the export of wheat, temporarily banned trade in key products Indonesia, Argentina, India and Kazakhstan to curb domestic prices.
Original content
The planet has entered an “era of food protectionism,” with some countries already banning or restricting large food exports to protect their stocks amid rising inflation, Businessinsider reports. Thus, Russia and Ukraine imposed restrictions on the export of wheat, temporarily banned trade in key products Indonesia, Argentina, India and Kazakhstan to contain domestic prices. “Rising food prices could lead to more such protectionist measures around the world and could further fuel food price inflation,” economists at Nomura predict. The publication, citing the US Department of Agriculture (USDA), reports that Russia, which provided 20% of world grain exports, announced a temporary ban on the supply of wheat. The export of sugar and sunflower seeds abroad has been temporarily restricted, and an export quota for sunflower oil has been introduced. The export of staple foodstuffs, including wheat and oats, has also been banned by Ukraine, which is the world's fifth-largest wheat ...
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