India Bans wheat exports

[R J]

Just heard this on the radio this morning , with immediate affect

 

[DrDunc]

Just heard this on the radio this morning , with immediate affect

Reasons given are?

Drought/ heatwave and will need everything to feed their own population?

Hold out until the price sky rockets next autumn when the enormity of export shortages from the Ukraine finally sinks in to the world?

 

[R J]

Reasons given are?

Drought/ heatwave and will need everything to feed their own population?

Hold out until the price sky rockets next autumn when the enormity of export shortages from the Ukraine finally sinks in to the world?

Sounded like they are having weather issues and are trying to calm domestic prices ,

 

[Courier]

Sounded like they are having weather issues and are trying to calm domestic prices ,

Just the beginnings of the chickens coming home to roost ....

 

[teslacoils]

India six weeks ago: we've loads of wheat. Cone get our 12m t

India two weeks ago: we want your fertiliser....but not from Russia.

USDA wsde on Thursday: India will be a significant exporter in 2022/3

India two days ago: send trade deligations through Asia to do deals

India today: bans exports.

Just leaves one significant exporter of wheat next year. And one holder of stocks. That's Russia and China.

It's going to be a winter of discontent.

 

[teslacoils]

In terms of numbers, they were expecting 110m ton harvest and 10m tons of exports. Now they're saying 100m tons ....and they've already shipped a million tons out. If their harvest is under 95m tons then we're starting to talk big numbers and serious global stock issues.

£400/t for wheat? 500?

 

[milkloss]

In terms of numbers, they were expecting 110m ton harvest and 10m tons of exports. Now they're saying 100m tons ....and they've already shipped a million tons out. If their harvest is under 95m tons then we're starting to talk big numbers and serious global stock issues.

£400/t for wheat? 500?

Be interesting to see. Not sure how the emerging markets would cope, I expect they're barely managing at current prices.

 

[egbert]

I suspect we're going to watch some very hungry people in poor importing countries.

(The Med will be alive with yet more boats heading north...and thereafter the channel.)

 

[milkloss]

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[robs1]

Be interesting to see. Not sure how the emerging markets would cope, I expect they're barely managing at current prices.

Not sure how the pig and poultry sectors here will cope, however I'm sure it will all be fine the clever people are all telling us we can plant trees, rewild the countryside and plant crops to capture carbon from flights round the world.

 

[teslacoils]

Northern Kenya / Ethiopia are apparently already at famine.

I know the current focus is on "poor Ukraine" but they don't have quite the issues of getting asylum or world sympathy etc than those folk in Africa.

 

[Kevtherev]

Not sure how the pig and poultry sectors here will cope, however I'm sure it will all be fine the clever people are all telling us we can plant trees, rewild the countryside and plant crops to capture carbon from flights round the world.

I think boris mrs is behind all that

 

[teslacoils]

Not sure how the pig and poultry sectors here will cope, however I'm sure it will all be fine the clever people are all telling us we can plant trees, rewild the countryside and plant crops to capture carbon from flights round the world.

Prices will rise. There won't be any starving Brits. BBC today had two articles about folk pawning their expensive laptop and kids Xbox. I'm currently in town and the carpark is full of folk in newish German cars; going to the gym; families in Costa all on their phones. There are plenty of notches on most families belts if they choose to use them.

 

[robs1]

Prices will rise. There won't be any starving Brits. BBC today had two articles about folk pawning their expensive laptop and kids Xbox. I'm currently in town and the carpark is full of folk in newish German cars; going to the gym; families in Costa all on their phones. There are plenty of notches on most families belts if they choose to use them.

Why would they want to do that, they expect the government to fix it for them

 

[teslacoils]

Why would they want to do that, they expect the government to fix it for them

I'm afraid I really don't care about the fiscal decisions of most people. The only surity is that the govt will bail out the majority.

They could at least legalise and tax marijuana. Then could raise some dosh, cut crime, stimulate demand for KitKat's, and chill out a bit.

 

[DrDunc]

I'm afraid I really don't care about the fiscal decisions of most people. The only surity is that the govt will bail out the majority.

They could at least legalise and tax marijuana. Then could raise some dosh, cut crime, stimulate demand for KitKat's, and chill out a bit.

Give it time

Wait until the price and shortage of bread, chicken, pork, possibly even milk skyrocket; the great unwashed will start to riot

Bojo's current baby factory will be screaming for legalisation and mass cultivation of calming "grass"

Why else do you think they're not yet banning BOGOF deals on chocolate bars and sugary treats

 

[teslacoils]

Why else do you think they're not yet banning BOGOF deals on chocolate bars and sugary treats

Fat reserves for winter.

 

[melted welly]

Ex sainsbury man on R4 quoted as saying “it appears the uk has been in a period of cheap food”

wow, insightful.

 

[bankrupt]

£400/t for wheat? 500?

600 would be the equivalent in today's money to where the 70s equilibrium eventually settled down after endless energy price and wheat supply shocks.

 

[Lowland1]

Northern Kenya / Ethiopia are apparently already at famine.

I know the current focus is on "poor Ukraine" but they don't have quite the issues of getting asylum or world sympathy etc than those folk in Africa.

We are always in famine. You know what happens when food is in short supply you eat less it’s simple. My last wheat here sold for £315 a tonne now its £380. People here don’t eat much meat generally it’s maize meal and spinach. Want to solve world hunger ? Plant cabbage and eat your greens.