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Recently, global food shortages have been spurred by Russia's war in Ukraine. Russia, which accounted for 25

percent of world wheat exports, reduced the supply of wheat because of war. Then India which is the world's
second largest producer of wheat was expected to solve global wheat shortages. In spite of this expectation, on
May 13, India imposed a ban on wheat exports. It was very shocking news to people all over the world.

Why did they do this despite expectation? The reasons for this were inflation and food security. Rising
food prices pushed India's inflation. Also, India's wheat harvest decreased because-of a heatwave. As a
result, wheat prices in India made a record high, in some markets as high as 25,000 rupees. It was higher
than the government's fixed minimum support price of 20,150 rupees. As this situation happened, the

Indian government decided to take an action for price stabilization. Not only India but also many countries
experienced bad results. This Indian regulation has had an impact on the world, especially Europe. According
to AFP, wheat prices have increased from 422.40 euros to 438.25 euros per ton. Futures traded in Chicago also

rose about 6% to $12.47 a bushel. Like in these examples, the world is suffering from soaring prices of food.
Also, concerns have grown that famine and social unrest will intensify in poor countries.

In addition, as wheat exports from India were banned, importing countries were worried. Officials said
"Anxious importing nations have started putting in diplomatic requests as the list of countries seeking the