#corona #coronavirus #inflation
Lockdowns and panic food buying due to the corona virus or COVID- 19 pandemic could ignite world food inflation even though there are ample supplies of staple grains and oilseeds in key exporting nations, a senior economist and agricultural analysts said.
Due to this pandemic condition across globe each and every industry just stop , thair is no production factory running , their is no agriculture work done in this 2 month period and no one knows this pandemic condition when end , this will surely lead to inflation of food industry .
With over 270,000 infections and more than 11,000 deaths, the epidemic has stunned the world and drawn comparisons with periods such as World War Two and the 1918 Spanish flu pandemic.
“It is not a supply issue, but it is a behavioural change over food security,” What if bulk buyers think they can’t get wheat or rice shipments in May or June? That is what could lead to a global food supply crisis.”
Consumers across the world have queued at super markets and in market in recent weeks to stock up on items ranging from rice and hand sanitizers to toilet paper, and all required material for a month or a week even we come to know in this 2 week . Alot of people doing black marketing of stuff like sanitizer , toilate paper .
The global benchmark Chicago wheat futures rose more than 6% this week, the biggest weekly gain in nine months, while rice prices in Thailand, the world’s 2nd largest exporter of the grain, have climbed to the highest since August 2013.