- Argentina Halts Soy Exports As Food Protectionism Soars
by Tyler Durden, https://www.zerohedge.com/
Russia’s invasion of Ukraine disrupted the global food supply chain as the prospect for dwindling stockpiles catapulted food prices to record highs. Governments worldwide are beginning to enforce protectionist measures to safeguard domestic food supplies.
According to a memo signed by Javier Preciado Patino, the secretary for agriculture markets, Argentina made moves this weekend to increase control over local farm goods by suspending soybean meal and oil for export.
The temporary halt by the world’s top exporter of processed soy products comes after Russia invaded Ukraine that disrupted global food markets. Following the news from Argentina, soy meal futures prices jumped more than 2.2%.