export: With soaring food prices, these countries are banning food exports


PARIS: India banned wheat exports on Saturday as a heat wave slashed output and domestic prices soared, a blow to global buyers betting on the world’s second-largest wheat producer after the Russian invasion of Ukraine on February 24 which hit Black Sea supplies.

The war in Ukraine has plunged grain and sunflower oil exports from the Black Sea region, adding to the pressure of unfavorable weather conditions in major producing countries, threatening global production. With food prices soaring, a growing list of key producing countries are limiting exports.

Here are some examples of the most recent or major food export bans.

INDIA – MAY 2022 – WHEAT

India has banned wheat exports in a bid to depress local prices, days after saying it was aiming for record shipments this year. Global wheat markets surged after the news.

Before the ban, India was aiming to ship a record 10 million tonnes this year.

UKRAINE – FEBRUARY/MARCH 2022 – CEREALS

Ukraine closed its ports shortly after the start of the war with Russia, in what Moscow calls a special military operation.

Later he banned the export of rye, barley, buckwheat, millet, sugar, salt and meat and introduced export licenses for wheat, corn and sunflower oil . Ukraine is one of the world’s leading grain producers and exporters and the largest exporter of sunflower oil.

The halt in Ukrainian exports has sent world food prices to record highs.

INDONESIA – APRIL 2022 – PALM OIL

Indonesia, the world’s largest producer of palm oil, imposed an export ban on several palm oil products in late April in a bid to secure domestic supplies and lower prices.

This move sent world vegetable oil prices up across the board.

OTHER COUNTRIES – MARCH/APRIL 2022 – CEREALS

Argentina said it would put in place a mechanism to control domestic wheat prices and temper food inflation.

Hungary has banned all grain exports.

Serbia has limited the quantities of wheat, corn, flour and cooking oil for export.

Bulgaria has said it will increase grain reserves and may restrict exports.

ARGENTINA – DEC 2021 – CORN + WHEAT

Argentina has capped the volume of corn and wheat that can be exported in a bid to avert domestic grain shortages and curb rising food values ​​in the country. The decision sent US corn prices to their highest level in 6½ years.

RUSSIA 2021 – CEREALS

Russia imposed taxes on grain exports in June 2021 as part of measures the government hoped would help stabilize domestic food inflation.

The Ministry of Agriculture determines the amount of duty on a weekly basis, based on price indicators provided by traders.

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