Global food prices held near a record as crop trade is disrupted by the war in Ukraine, exacerbating tight supplies and stoking inflation. Moneyweb Ukraine
Global food prices held near a record as crop trade is disrupted by the war in Ukraine, exacerbating tight supplies and stoking inflation. Russia’s invasion has reduced exports from Ukraine to a trickle, curbing supplies from one of the world’s biggest grain and vegetable oil shippers. That’s sent buyers flocking elsewhere, while some nations are moving to restrict sales as they worry about depleting local reserves.
Officials in Indonesia, the world’s top edible-oil shipper, recently restricted sales of palm oil abroad. That adds to a rash of crop protectionism since the war began, with countries like Serbia and Kazakhstan imposing quotas on grain shipments. India is also said to be considering limiting wheat exports after severe heat damaged crops, while its government said Thursday it doesn’t see a case for restrictions.
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