Wheat Exports Ban, "Adds To Growing Food Inflation Risks In Asia": Nomura

Wheat Exports Ban, "Adds To Growing Food Inflation Risks In Asia": Nomura
"Indias export ban should exert upward pressure on global wheat prices": Nomura
  1. "India's export ban should exert upward pressure on global wheat prices."
  2. "The duration of India's export ban is indefinite as of now, and could be long lasting, if global food prices remain elevated."
  3. "We do not expect any major relief on India's food inflation. The impact on the current account balance should also be limited."
  4. "The impact will be felt disproportionately by low income developing countries, especially Bangladesh. In Asia, except for Australia and India, most other economies depend on imported wheat for domestic consumption and are at risk from higher wheat prices globally, even if they do not directly import from India."
  5. "We see rising food inflation as an upside risk to the overall inflation outlook in Asia, as risks are skewed towards more food protectionism."
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