Food protectionism is on the rise in the developing world as governments try to safeguard local supplies, and the effects are threatening to spill over into richer economies.
Many countries are restricting food exports to cope with high prices that have been exacerbated by the war in Ukraine.
Malaysia just announced a ban on chicken exports, causing consternation in Singapore which gets a third of its supplies from its neighbour.
India has moved to curb wheat and sugar shipments, Indonesia has limited palm oil sales, and some other nations have issued grain quotas.
The poorest countries are most vulnerable to surging food prices and shortages, but wealthier economies are not immune. For example, almost 10 million Britons cut back on food in April amid a cost-of-living crisis.
Restaurants in the United States are shrinking the size of their portions, while France has pledged to issue food vouchers to some households.
This story is from the May 26, 2022 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the May 26, 2022 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
FINALLY, A FIRST GOLD FOR PERKINS
Patience rewarded for French jockey whose rides, let alone good ones, have been scarce
TOUGH MARE SEALS LAST TOUR DE FORCE WITH A WIN
French fields beckon as Lim’s Force goes out with a bang, leading rare Zaki riding double
Banks' earnings expected to stay strong with higher-for-longer rates
S’pore bank chiefs optimistic about net interest margins, but headwinds remain
Spending spree led by US, EU pushes rivalry with China to critical turning point
WASHINGTON by the United States and European Union have funnelled nearly US$81 billion (S$110 billion) towards cranking out the next generation of semiconductors, escalating a global showdown with China for chip supremacy.
Archegos founder on trial for securities fraud
Archegos founder Bill Hwang was scheduled to go on trial on May 13 for alleged securities fraud and market manipulation, prosecutors said, following the fund's spectacular 2021 implosion that cost large banks billions of dollars.
Changi Airport’s heavy and specialised vehicles to trial use of renewable diesel
As part of a further move to lower the aviation industry's carbon footprint, trials on the use of renewable diesel for heavy and specialised airside vehicles will be conducted at Changi Airport.
Convict deported to Cambodia faces possible extradition to China
Beijing has an extradition treaty with Phnom Penh, but not with S’pore
Sellers welcome option to market resale flats on HDB portal by themselves
They can market their unit at their own pace and save on property agent fees
US gurus’ push false claims to attack birth control pills
They monetise misinformation to hawk healing’ oils and fertility-tracking service
Wildfires in Western Canada spark evacuation orders, air quality concerns
The season’s first major wildfire continued to spread to roughly 10,000ha across Western Canada on May 12 as the authorities issued an evacuation order for a community in British Columbia and warned of poor air quality across provinces.