Very hard, almost impossible to do. Commodity markets are highly regulated and in order to find a buyer at the market price, you have to go through official channels (source must be officially known for most foreign buyers etc). The EU, US and most other countries require official quality checks before any big shipment can actually be shipped out of the country (otherwise they won't accept it at the port of destination). Also just because of the sheer volume (tons and tons of grains), it is practically impossible to sneak it out of the country in any interesting quantities. Customs will always be involved.
Yeah the weird thing is that still a lot of people seem numb to it. They’re so used to this kind of dynamic that nothing surprises them anymore. The younger generation a bit less (they know high inflation, but nothing like the hyperinflation from 1989) - looks like that is coming at them no matter what the government tries. I think they’re too far down the road already in terms of local debt, very similar dynamic as the previous hyperinflation. That ended in a new currency and pegging it 1:1 with the USD.
Thanks for the update.
Can’t just organised crime smuggle some soybeans and beef out of the country to cash in the FX market rate?
Very hard, almost impossible to do. Commodity markets are highly regulated and in order to find a buyer at the market price, you have to go through official channels (source must be officially known for most foreign buyers etc). The EU, US and most other countries require official quality checks before any big shipment can actually be shipped out of the country (otherwise they won't accept it at the port of destination). Also just because of the sheer volume (tons and tons of grains), it is practically impossible to sneak it out of the country in any interesting quantities. Customs will always be involved.
Appreciate the update. This has to be demoralizing watching the disaster unfold in real time day by day.
Yeah the weird thing is that still a lot of people seem numb to it. They’re so used to this kind of dynamic that nothing surprises them anymore. The younger generation a bit less (they know high inflation, but nothing like the hyperinflation from 1989) - looks like that is coming at them no matter what the government tries. I think they’re too far down the road already in terms of local debt, very similar dynamic as the previous hyperinflation. That ended in a new currency and pegging it 1:1 with the USD.