WASHINGTON: The International Monetary Fund has expressed concern about some countries' use of food and fertiliser export restrictions, which can exacerbate global price increases and market volatility, and has praised India's recent decision to ease its previously announced wheat export ban and allow some shipments to proceed.
Since the start of the Ukrainian conflict, 30 nations have cut commodity exports, including food and fuel, according to a senior International Monetary Fund official.
"The use of food and fertiliser export limitations, which can exacerbate global price increases and market instability, is highly concerning to us. So, this isn't just about India "At a press conference here on Thursday, IMF spokesperson Gerry Rice told reporters.
Last month, India slapped an embargo on wheat exports in an effort to keep high prices in check, citing concerns that the blistering heat wave might reduce wheat output.
Wheat prices have risen on international markets following India's announcement of a ban on exports of the basic commodity, as well as reduced production prospects in Ukraine following Russia's invasion, according to the UN food agency.
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