Things are happening pretty rapidly on this front with many countries restricting their exports and making imports easy.
Our govt , particularly is taking various steps when it comes to restricting exports and making imports bit easy.
These steps are generating mixed reactions as one side argues that these steps may have long term implications for Indian economy and exports as repeated govt intervention can indicate uncertainty as supply partner whereas others view these measures as proactive and helpful in taming inflation in the short run. There’s also a view that with commodity war happening across the world with Indonesia briefly banning palm oil exports and Malaysia banning chicken exports , these steps may be of strategic importance going forward.
These type of events are many times planned very well in advance which takes months and sometimes years to materialise.
For example, the news related to fertilizer shortage started in the second half of 2021.
Wheat
Iron ore
Sugar
Sunflower Oil
This is the 3rd announcement on this front in 3 days.
Are things gonna turn nasty going forward when it comes to food prices and availability? Unless something drastic happens., it certainly looks likely.