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India lifts export restrictions on rice
Over the past two months, India has removed several of its restrictions affecting rice exports, some in place since September 2022. This is welcome news for rice importing countries, which for the past year have had to seek alternative suppliers at significantly elevated prices.
Catastrophe-Level Food Insecurity Highest Ever Recorded: GRFC Mid-Year Update Released
According to the Global Report on Food Crises (GRFC) Mid-Year Update, the number of people facing or expected to face IPC Phase 5 (Catastrophe/Famine) food insecurity more than doubled from 2023 to 2024: from just over 700,000 people to 1.9 million people in four countries/territories. This is the highest number ever recorded by GRFC reporting.
Echoes of inflation: unpacking the drivers of food prices in Central America
In 2022, Central America experienced significant surge in food prices, a trend that was evident in Honduras. The country saw year-on-year monthly food inflation exceeding 12% from May 2022 to May 2023, with rates surpassing 17% in eight of those months.
In the following lines, we address the underlying causes of the food and fertilizer price surges, and the actions that can be taken to mitigate this situation in Central America.
After a year, India’s rice export restrictions continue to fuel high prices
In July 2023, the Indian government announced export restrictions on non-basmati white rice. Coming after earlier export limits on other types of rice, the action was taken in part due to a strengthening El Niño that threatened to limit rice production and fuel rising food inflation—a potential political liability for the Modi government as it faced upcoming general elections in spring 2024.
Trade policy and food price volatility: Beggar thy neighbor or beggar thyself?
Recent shocks from the COVID-19 pandemic to the ongoing Russia-Ukraine war have disrupted global food and fertilizer supply chains—causing price spikes and increased price volatility—a disastrous combination for many vulnerable consumers around the world.