Governments are reportedly moving to secure their own domestic food supplies during the coronavirus pandemic by imposing export bans, fearing that a supply-chain breakdown around the world to grow.
Here are some of the movement imposed by major wheat consumption countries
1. Kazakhstan has suspended exports of buckwheat, sugar, potatoes, carrots, onions and cabbages until at least April 15.
2. Russia has also suspended exports of processed grains such as ready-to-eat buckwheat, rice or oat flakes from March 20 for 10 days.
3. Morocco said a suspension of wheat import duties would be in place until the middle of June.
4. Vietnam will suspend signing new rice export contracts until March 28 at the earliest under a review to ensure domestic supplies are sufficient during the coronavirus outbreak.
Things are brewing in the grain market and investors should not miss this trend.