In case you haven’t noticed, food prices from eggs to fish have skyrocketed lately, and this inflation, which is partly due to global food shortages, shows no signs of slowing down. Some countries are coping with these shortages by banning food exports.
According to the most recent Consumer Price Index data from the Bureau of Labor Statistics, the price of groceries rose 11.9% over the past 12 months, its largest increase since the period ending in April 1979. The price of meat, poultry, fish and eggs rose the most, rising 14.2%, with the egg index rising 32.2%. (Here is the price of bacon and eggs the year you were born.)
It’s not just an American problem. The price of food has risen all over the world, for various reasons. On the one hand, the COVID-19 pandemic has had a huge impact on global supply chains. More recently, Russia’s war against Ukraine, long considered Europe’s breadbasket, has had a huge impact on its ability to export grain, fertilizer and vegetable oil. (We Bet You Didn’t Know These 32 Famous People Were Born In Ukraine.)
Faced with these food shortages and rising prices, many countries have stopped exporting certain foods altogether, in an effort to ensure they can feed their own people before selling food overseas.
To determine which countries ban food exports, 24/7 Wall St. looked at the Monitoring food and fertilizer export restrictions from International Food Policy Research Institute. The countries on this list implemented food export restrictions after Russia invaded Ukraine in February 2022. The restrictions remained active as of June 21, 2022.
Click here to see which countries ban food exports
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