Some of the world's biggest grain exporters barred their farmers from selling in global markets yesterday, exacerbating the food price crisis for poorer nations that import their food and highlighting the failure of governments to nurture stronger rules for agricultural trade.

Rice and corn prices soared to records on U.S. markets and wheat jumped to its highest in a week after Kazakhstan, the world's fifth-largest wheat exporter, and Indonesia, a major rice producer, became the latest nations to impose export bans. The price increases further inflated global food costs that already had surged 48 per cent since the end of...

* * *
The opinions expressed in this article/multimedia are those of the author(s) and do not necessarily reflect the views of CIGI or its Board of Directors.