Food Crisis Imminent: Hungary Bans All Grain Exports Effective Immediately

Those who have it, are no longer giving it away, and those that don’t will soon find themselves in the middle of an epic food crisis. Just hours after we reported that Russia effectively banned exports of fertilizers, moments ago Hungary – one of Europe’s most grain rich nations – has circled the wagons and realizing which way the wind is blowing, just announced that it will banning all grain exports effective immediately, in a statement . Expect wheat prices, already at record highs, to promptly double from here in the next few weeks as the world realizes the extent of the global food crisis that is coming.”

https://www.zerohedge.com/commodities/russia-recommends-fertilizer-makers-halt-all-exports

Published by markskidmore

Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times.

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