Food markets have been wildly disrupted by the war in Ukraine (Ruta, 2022; Espitia et al. 2022). Export restrictions have made a bad situation worse, contributing to food scarcity and higher food prices. For key staples such as wheat, rice and soybean oil, these measures have pushed prices up by 9 percent or more. Continuing down the path of uncooperative trade policies would magnify the shock and worsen global food price inflation. This blog provides information on current policies and their price effects.
How export restrictions are impacting global food prices