India has said it will ban wheat exports because the war in Ukraine threatens food security.

wheat field harvest

India’s decision to stop exporting wheat follows similar decisions in other countries.

Shannon VanRace/Reuters

  • India is immediately curbing wheat exports to ensure food security.
  • A government official said on Friday that it would export to countries that still need it, as requested.
  • Russia’s invasion of Ukraine caused inflation and food prices to soar.

India was the last country to impose an export ban on certain foods as a result of the Ukraine war and high inflation.

Bloomberg first reported the news..

Director of Foreign Trade of India in notice It said on Friday it would immediately halt new shipments of wheat but would continue to allow exports to countries that need help maintaining food security.

India’s ban on wheat exports comes after several countries restricted or banned exports of essential food last year. Rising costs of products like fuel have had a cascading effect on fertilizer and agricultural production, raising food prices.

Russia imposed export caps and fresh taxes on wheat in 2021 to tackle domestic food inflation. After the invasion of Ukraine, wheat exports to the former Soviet Union were temporarily banned.

Kazakhstan also restricted wheat and wheat exports after prices rose more than 30% since the start of the Ukraine war.

Ukraine, which accounts for 12 to 17 percent of the world’s wheat and maize supply, has halted exports of key foods, including wheat and oats, to protect food security during the war. Meanwhile, Argentina introduced regulations on beef.

Another country with an export embargo is Indonesia, the world’s largest exporter of palm oil. Indonesia has banned the shipment of palm oil products to other countries. This has led supermarkets around the world to limit the amount of cooking oil that buyers can purchase.

The World Bank says food prices are the highest since 2008 as the war in Ukraine has caused raw material prices to soar and the World Bank expects the impact on food prices to continue through 2024.

This means higher food prices in grocery stores for items such as cooking oils, fresh and processed fruits and vegetables, cereals and bakery products.

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