Saturday, January 28, 2023

Soaring Food Prices Prompt Eurasian Nations To Ban Food Exports

 The harshest winter since 2008 is contributing to shortages of staple vegetables across Central Asia and sending prices north in a region still suffering from COVID-induced food inflation.

On January 20, the Uzbek agriculture minister announced a four-month ban on exports of onions after prices doubled in three weeks.

Once among the cheapest onions produced by former Soviet countries, Uzbek onions are now as expensive as onions from countries like Georgia and Moldova, the ministry said, reaching 6,000-8,000 sum per kilo.

While the frosts have ruined part of the onion stock in storage, that is not the only source of pressure on prices.

Uz, one resident of Bukhara region gave an account of this perfect storm: "Due to the closure of gas stations, there are problems with public transport. On Tuesday we went to the market and did not see a single bus. The only thing left is taxis. Food prices have gone up. They say that goods are not being brought from Tashkent. There are no sellers at the Kholkhozni bazaar because vegetables and fruits have frozen."

The Ministry of Trade and Integration on January 22 said that prices for Kazakh onions had risen more than 5 percent in the space of a week.

According to a report by independent news outlet Asia-Plus, Tajik onion prices have tripled year-on-year to reach around 73 cents per kilogram, measured against the official exchange rate.

https://oilprice.com/Latest-Energy-News/World-News/Soaring-Food-Prices-Prompt-Eurasian-Nations-To-Ban-Food-Exports.html

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