Ugh



India, second-largest wheat producer, bans exports amid food supply concerns
Global wheat prices have increased by more than 40% since the beginning of the year

India, the second-largest producer of wheat, has banned exports of the commodity, due to a risk to its food security.

A Friday notice in the government gazette signed by Santosh Kumar Sarangi, the Director General of Foreign Trade, said that a "sudden spike" in the global prices of wheat was putting India, neighboring and other vulnerable countries at risk.

The export of wheat will be allowed in case of shipments where an Irrevocable Letter of Credit (ICLC) had been issued on or before the date of the notice and "on the basis of permission granted by the Government of India to other countries to meet their food security needs and based on the request of their governments."

"The export policy of wheat against the above mentioned HS codes is ‘Prohibited’ with immediate effect except for shipments fulfilling the conditions mentioned in [paragraph 2 above which will be allowed as per the procedure outlined in Para 1.05 (b) of the Foreign Trade Policy, 2015-2020," the director wrote.

Even though it is the world's second-largest producer of wheat, India consumes most of the wheat it produces.

The nation had set a goal of exporting 10 million tons from 2022 to 2023, much of which would have gone to other developing countries like Indonesia, the Philippines and Thailand.

India's wheat harvest has suffered from record-breaking heat and its own stocks have been strained by the distribution of free grain during the COVID-19 pandemic.

Other countries are also grappling with poor harvests that hinder their ability to help offset shortfalls due to Russia's war in Ukraine.

Before the invasion, Ukraine and Russia accounted for a third of global wheat and barley exports.

Global wheat prices have increased by more than 40% since the beginning of the year.

Earlier this month, the United Nations' Food and Agriculture Organization (FAO) slightly cut its projection of world wheat production in 2022 to 782 million tonnes, from 784 million last month.

https://www.foxbusiness.com/ec...food-security-threat

If this lasts the U.S. can make up the difference in other countries export shortfalls on the world market by planting more wheat acreage in the fall. It needs to make economic sense but with the increase in wheat prices it may very well be.

Maybe we could grow more wheat, drill for oil and stop putting corn in gasoline...

quote:

Originally posted by nhracecraft:
Maybe we could grow more wheat, drill for oil and stop putting corn in gasoline...

Don't be silly.
If logic was used more, we could get rid of a large percentage of government and the associated employees and expenses and slash the deficit.

In fact, maybe we could retrain some of those idiots to be wheat farmers and work in the oil industry.

Back to reality. India, like China has about 1.3 billion mouths to feed. In the US we have about .3 billion and a lot more options.

Cooking oils also going to get tight. Many poorer nations may really suffer from food shortages. And on top of that is the fertilizer shortage which will reduce yields and further increase prices, diesel costs soaring which will increase production and transportation costs.


Food crisis grows as spiraling prices spark export bans

https://www.reuters.com/world/...ort-bans-2022-03-09/

A global food crisis sparked by Russia's invasion of Ukraine escalated on Wednesday as Indonesia tightened curbs on palm oil exports, adding to a growing list of key producing countries seeking to keep vital food supplies within their borders.

The conflict in Ukraine is threatening global grain production, the supply of edible oils and fertiliser exports, sending basic commodity prices rocketing and mirroring the crisis in energy markets.

Palm oil is the world's most widely used vegetable oil and is used in the manufacture of many products including biscuits, margarine, laundry detergents and chocolate. Palm oil prices have risen by more than 50% this year.

Indonesia's Trade Minister Muhammad Lufti said the export curbs aimed to ensure that cooking oil prices at home remain affordable to consumers. read more

The rise in prices comes at a time when affordability of food is a major challenge as economies seek to recover from the coronavirus crisis and is also helping to fuel a broader surge in inflation across the globe.

Russia and Ukraine are also important suppliers of edible oils as well as contributing nearly 30% of global wheat exports.

Ukraine announced on Wednesday it had banned a wide range of agricultural exports including barley, sugar and meat until the end of the year. read more

The conflict has not only disrupted shipments from the Black Sea region but is also jeopardising prospects for harvests as fertilizer prices soar and supplies shrink in response to a sharp rise in the cost of natural gas - a key component in the manufacturing process for many products.

World food prices rose to a record high in February to post a year-on-year increase of 20.7%, according to the United Nations food agency, while many markets have continued to climb this month. read more

Malaysian palm oil futures rose to an all-time high following Indonesia's announcement while soybean oil prices jumped to a 14-year peak.

Soybean oil prices have climbed by almost 40% this year.

SCRAMBLING FOR SUPPLIES
Russia and Ukraine are both major producers of sunflower oil and the two countries account for almost 80% of global exports, leaving customers such as India scrambling to secure supplies of alternatives such as palm oil and soyoil. read more

Chicago wheat futures have climbed around 60% so far this year, threatening to raise the cost of key food staples such as bread.

The loss of two major exporters in Ukraine and Russia has been compounded by news that the condition of the wheat crop in the world's top producer, China, may be the "worst in history" according to the country's agriculture minister. read more

Poor growing conditions in drought-affected parts of the U.S. Plains look set to further tighten supplies.

Serbia announced on Wednesday it will ban exports of wheat, corn, flour and cooking oil as of Thursday to counter price increases while Hungary banned all grain exports last week.

Bulgaria has also announced it will increase its grain reserves and might restrict exports until it has carried out planned purchases.

Grain supplies in Romania, a major exporter, have also tightened as international buyers seek alternatives to Russia or Ukrainian supplies although there are currently no plans to restrict shipments.

Global grain production could also decline as the production of fertilizers, which help to boost crop yields, is curtailed following a rise in natural gas prices.

Yara (YAR.OL), one of the world's largest fertiliser makers, said on Wednesday it was curtailing its ammonia and urea output in Italy and France.

The Norwegian company warned last week that the conflict was threatening global food supplies. read more

Russia, which calls its actions in Ukraine a "special operation" rather than an invasion, had been a major supplier of fertilisers but the country's trade and industry ministry recommended on Friday that producers temporarily halt exports.

India is not our friend. Wish they would ban their call centers.

every country should look after its own interests first

unfortunately we in the US do not and as a result, we are usually the ones taking it in the shorts

quote:

Originally posted by nhtagmember:
every country should look after its own interests first

unfortunately we in the US do not and as a result, we are usually the ones taking it in the shorts

When you have your own government buying baby formula and sending to the border to feed illegal immigrants and there is a shortage for tax paying citizens, it shows how out of touch and uncaring your government is.

I don't eat a lot of bread/carbs, mostly pasta and rice.

Rice I'm not as worried about, since Arkansas is a major rice source.

But I did go ahead and sock away an extra 10 pounds of dried pasta a few months back when Ukraine was kicking off. Probably should have made that 20-30. (Luckily, the pasta I like is available in 5 pound bags at a significantly cheaper unit cost than buying 12-16 oz boxes.)

quote:

Originally posted by wcb6092:

quote:

Originally posted by nhtagmember:
every country should look after its own interests first

unfortunately we in the US do not and as a result, we are usually the ones taking it in the shorts

When you have your own government buying baby formula and sending to the border to feed illegal immigrants and there is a shortage for tax paying citizens, it shows how out of touch and uncaring your government is.

agreed

we are the prime example of a government that doesn't give a flying fuck about its own citizens, yet bends over backwards to do everything it can to make like incrementally more miserable for us day by day

When you have a government that actually creates the baby food shortage…

There was never any factual evidence that there is any bacteriological contamination of the formula even as they shut the plant down in February. It’s almost June.

quote:

Originally posted by wcb6092:
...it shows how out of touch and uncaring your government is.

It's not about being uncaring or out of touch. They hate us. In their eyes we are the enemy, not the Taliban, or al-Qaeda, not China. So why should they do anything to support the enemy.

Something not right.

We're the enemy and yet Biden is the winningest, most voted for president in foreva? Why we enemy if we vote for him? Dat piece of shit, me no vote him any mo. Oh, wait. Me bad so it's right that he punish me. Ok, I vote him again.