Countries Starting to Hoard Food, Threatening Global Trade (Bloomberg)

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A number of countries have now started banning the export of staple crops.

  • Kazakhstan has banned exports of wheat along with carrots and potatoes
  • Romania has banned the export of wheat to non-EU countries
  • Serbia has stopped the outflow of sunflower oil

Some nations are adding to their reserves to allow for surplus stock in the event of prolonged disruption to world food markets. China is stock-piling rice and wheat, even while it is already producing surplus.

Even though the world has such a diverse climate and growing lands, only a dozen or so countries account for the bulk of exportable food supplies. Disruptions to this supply chain could have dramatic consequences for world food prices and availability.

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