Global crop tradinghas been roiledafter Russia’s invasion of Ukraine paralyzed crucial Black Sea supplies, and now there’s another threat building: Food protectionism.
Bloombergreports that with prices ofkey staples spiking, governments are starting to take steps to safeguard domestic supplies and keep costs in check for their people.
Among the list, Moldova, Hungary and Serbia have banned some grain exports, while edible oil giant Indonesia is tightening controls over palm oil shipments.
The Nationalreported that Egypt will impose a three-month ban on the export of several essential food items, including wheat, flour and pasta, beginning March 11.
With Ukraine’s ports shut and some traders steering clear of Russia, it’s becoming harder and more costly to source grain cargoes.
