Food protectionism in play as countries raise export barriers (Seeking Alpha)

Seeking Alpha (USA) published an article that stated that the conflict in Ukraine has already led nations to reassess their energy security, but with two of the world’s biggest grain exporters at war, food security is also making waves. The Hungarian government now has the option to buy any grain destined for export, while Moldova and Serbia have restricted sales of crops like wheat and sugar. Bulgaria has also allocated government funds to increase its national grains reserve, while proposals in France are lobbying the government to stockpile grains on fears that supplies could get depleted. Senior research fellow Joseph Glauber said food protectionism is even enveloping markets outside of Europe. Indonesia, the number one producer of palm oil, is raising export duties to make it more profitable for companies to supply the domestic market. Argentina, the biggest exporter of soybean meal and oil, is blocking traders from registering cargos for export, while Egypt is prohibiting staples like flour, lentils, and wheat from leaving the country for three months. “Any stability that you get in the country that’s putting up the export ban is an instability exported to the rest of the world.”