Posted on 05/16/2022 4:50:54 AM PDT by EBH
The United States and the European Union are looking at how to improve food supply chains with export restrictions from India and other nations accentuating global problems, the EU’s trade chief told CNBC.
G-7 foreign ministers warned over the weekend that the war in Ukraine is increasing the risk of a global hunger crisis. This is because Ukraine has been unable to export grains, fertilizers and vegetable oil, while the conflict is also destroying crop fields and preventing a normal planting season.
This has increased the reliance on nations from other parts of the world for these products. But some of these countries, concerned about supplies for their own citizens, have imposed restrictions on exports. This is the case in India, for example, which announced Saturday a ban on wheat sales “to manage the overall food security of the country.”
“That’s something which is very much of concern,” Valdis Dombrovskis, the EU’s trade chief, told CNBC Sunday about these new export measures.
“We agreed with the United States to cooperate and coordinate our approaches in this area, because ... as a response to Russia’s aggression against Ukraine and a corresponding increase in food prices and concerns about food security, countries are starting to take export restrictive measures. And we think that this is a tendency which can only actually aggravate the problem,” Dombrovskis said.
He added that these measures, such as Indonesia’s ban on palm oil exports, “make matters worse.”
Limits on exports are likely to drive up commodity prices, and therefore food costs too. For the EU, this is a matter of food affordability, Dombrovskis explained.
(Excerpt) Read more at cnbc.com ...
India is not a big wheat exporter. Their decision not to export any is a contributor to the problem, but not a significant contributor. I think The Narrative wants to scare people as much as possible and will emphasize any possible story that makes food shortages seem bad. This is all about how The Great Reset can save us from disaster.
Wheat is a global commodity, price globally.
The price is Somalia is the same as in Chicago (minus shipping).
The impact on ALL food prices in the US will be severe.
Better start producing the power needed to produce the nitrogen fertilizer. A green economy just isn’t going to do it.
Grow your own. Spring is here and the growing season is just getting started.
It’s not too late to get some plants from a garden center and stick them in a pot or the ground.
And continue to stock up on groceries a little bit at a time each time you shop.
Less then two years of a weak marxist imbecile and the world is falling apart.
India has NOT banned all wheat exports.
India has banned all private company wheat exports, in favour of Govt to Govt contracts. It was noticed that certain major trading houses were trying to corner a lot of the wheat, probably then profiting from artificial supply shortages and resultant increased prices. So it is this that has been banned.
All wheat exports will be handled by the Govt and will obviously be made for strategic and diplomatic reasons. Egypt will get the million tonnes it wants. Pakistan is unlikely to.
Essentially it is, in keeping with the times, a further weaponisation of trade. Indonesia did it with Palm Oil, putting the Indian Govt in a fix. If Indonesia needs wheat/rice, it'll have to send Palm oil.
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