Governments Tighten Grip on Global Food Stocks, Sending Prices Higher

The New York Times (NYT) (04/30/2022)
  • Several nations have started limiting food exports to secure internal supply and reduce inflation.
  • Countries halting food exports include Turkey (butter, beef, lamb), Ukraine (wheat, oats), Russia (sugar, grains) and Indonesia (supplies 50% of global palm oil).
  • Fears are growing that export restrictions will spark a vicious cycle that pushes global inflation higher.
  • While the World Trade Organization condemns protectionist policies, member nations are allowed to temporarily impose restrictions during periods of uncertainty.