Skip to content
Markets

Food Protectionism Is Spreading as Hungary Bans Grain Exports

  • Argentina, Turkey also moved this week to increase control
  • Invasion of Ukraine has caused chaos in agriculture markets
A farmer walks through a wheat field during a harvest in Bragado, Argentina.

A farmer walks through a wheat field during a harvest in Bragado, Argentina.

Photographer: Sarah Pabst/Bloomberg
Updated on

Governments around the world are taking steps to safeguard domestic food supplies after Russia’s invasion of Ukraine roiled trade and sent prices of key staples soaring.

Hungary is banning grain exports, its agriculture minister told television channel RTL on Friday. Argentina and Turkey also made moves this week to increase their control over local products. And Moldova, albeit a small shipper, temporarily halted exports of wheat, corn and sugar from this month.