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Food Crisis Imminent: Hungary Bans All Grain Exports Effective Immediately

By Tyler Durden | 4 March 2022

ZERO HEDGE — (Update 1:25pm ET) – Those who have it, are no longer giving it away, and those that don’t will soon find themselves in the middle of an epic food crisis.

Just hours after we reported that Russia effectively banned exports of fertilizers, moments ago Hungary – one of Europe’s most grain rich nations – has circled the wagons and realizing which way the wind is blowing, just announced that it will banning all grain exports effective immediately, in a statement .

Expect wheat prices, already at record highs, to promptly double from here in the next few weeks as the world realizes the extent of the global food crisis that is coming.

Our suggestion: buy flour, rice, barley and any other grains you can now, rather than waiting one month to buy them because you have to.

Earlier

This morning we listed some of the countries that are dangerously (and almost exclusively) reliant on Russia and Ukraine for their wheat imports, highlighting Turkey, Egypt, Tunisia and others. […]

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