Emerging markets accelerate food export embargoes as inflation bites
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Food price inflation has driven overall inflation higher in the US during 2022, with food prices rising 9.4% year on year in April. Food price inflation has not been unique to the US, as rising fertilizer prices and Ukraine export concerns have driven prices higher globally. Exchange prices for wheat (WEAT), corn (CORN) and soybeans (SOYB) have all hit decade / all-time highs in 2022. And governments in many emerging markets are taking action. 
India, the world's largest producer of sugar (CANE) announced Tuesday that the government will curtail exports through the end of October. India has already banned wheat exports, and said Wednesday there is no plan to lift the ban. Malaysia announced a chicken export ban Monday, following Indonesia's plan to ban palm oil exports, announced in April.

Aside from very recent announcements, Argentina has announced a two-year ban on soybean oil and soybean meal export. Egypt has announced a short-term ban on all grains and vegetable oils. While over a dozen other countries have imposed similar embargoes. 
War in Ukraine and a lack of affordable fertilizer (MOS) (NTR) pose the most notable threats to food supply; however, reduced trade could compound problems. While rising prices could benefit agricultural exporters like the US, higher food prices pose a challenge to retailers (ACI) (OTCQX:TSCDY) while supply chain challenges could impact branded food manufacturers (GIS) (KHC).