Researchers are now looking deeper into the price impacts of export bans as many were enacted due to the pandemic and the war in Ukraine.
University of Illinois ag economists found export bans cause nearly immediate price hikes in both the commodities themselves and risk management. That is because there is also a rise in price uncertainty.
They say there is more variability in how much can be produced with fewer players in the game.
Related:
Indonesia will lift its palm oil export ban
U.S. ambassador warns countries to stop export bans
India bans wheat exports to protect its domestic supply
Russia to ban exports of ammonium nitrate for the next two months
