Ukraine war: IMF says is concerned by food, fertilizer export restrictions

It welcomed India's decision recently to relax its originally announced ban on wheat exports, and allow some shipments to proceed

International Monetary Fund, IMF
Photo: Reuters
Press Trust of India Washington
2 min read Last Updated : Jun 11 2022 | 2:02 AM IST

Observing that some 30 countries have curtailed exports of commodity goods including food and fuel since the war in Ukraine began, the International Monetary Fund Thursday said it is concerned by the use of food and fertilizer export restrictions.

It welcomed India's decision recently to relax its originally announced ban on wheat exports, and allow some shipments to proceed.

"We are very concerned by the use of food and fertilizer export restrictions, which can exacerbate global price increases and market volatility. So, this goes beyond India," IMF spokesperson Gerry Rice told reporters at a news conference here.

"Our monitoring indicates that some 30 countries, in fact, have curtailed exports of commodity goods, including food and fuel, and that since the war in Ukraine began. So, we are very concerned about this. (IMF Managing Director) Kristalina Georgieva has been very vocal on this. (First Deputy Managing Director) Gita Gopinath spoke about it again, yesterday, he said responding to a question on India.

"On India, we welcome India's decision recently to relax its originally announced ban and allow some wheat exports to proceed, including the already contracted shipments and exports to countries with food security needs. And we hope to see further relaxation of bans and again, not just by India, but also by all countries who have imposed them," Rice said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Russia Ukraine ConflictIMF

First Published: Jun 10 2022 | 8:10 AM IST

Next Story