More Countries Work to Secure Grain Supplies
More countries are putting in measures to guarantee grain supplies. On Monday, Iraq announced it will allocate $100 million to purchase wheat and create a strategic reserve by importing 3 MMT of the grain, the commerce minister said. Bulgaria will purchase 1.5 MMT of the 3.0 MMT of wheat the country’s farmers have in storage. The government might also halt exports until the purchase program is completed. Hungary announced a grain export ban that took effect on Friday.
Top flour exporter Turkey boosted the agriculture ministry’s authority over exports of various goods, allowing it to make “periodical arrangements” if needed. Although a small shipper, Moldova temporarily halted wheat, corn and sugar exports earlier this month.
Romania’s Farm Minister Adrian Chesnoiu reported his country has enough grain and food reserves to weather the crisis and is not considering limiting wheat exports at the moment.
