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Trade restrictions are increasing, especially on food, says WTO

The World Trade Organization said in a report on Tuesday that countries were introducing trade restrictions at an increased pace, particularly on food, feed and fertilisers

World prices for wheat rose 6% on news of India’s export ban. (Photo: Bloomberg)

Photo: Bloomberg

Reuters GENEVA

The World Trade Organization said in a report on Tuesday that countries were introducing trade restrictions at an increased pace, particularly on food, feed and fertilisers.

"Out of the 78 export restrictive measures on food, feed, and fertilizers introduced since the start of the war in late February, 57 are still in place, covering roughly $56.6 billion of trade," said WTO Director-General Ngozi Okonjo-Iweala.

"These numbers have increased since mid-October, which should be a cause for concern," she said.

However, nearly 80 % of COVID-19 trade restrictions have been repealed, the report said, citing data through to mid-October.

(Reporting by Emma Farge, Editing by Miranda Murray)

 

(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.)

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First Published: Dec 06 2022 | 11:31 PM IST

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