Mar 25, 2020

Countries Starting to Hoard Food, Threaten Global Trade

Some governments are moving to secure domestic food supplies

source: Yahoo Finance

Some governments are moving to secure domestic food supplies during the conoravirus pandemic.

According to a report at Yahoo Finance, Kazakhstan, one of the world’s biggest shippers of wheat flour, banned exports of that product along with others, including carrots, sugar and potatoes.

Vietnam temporarily suspended new rice export contracts. Serbia has stopped the flow of its sunflower oil and other goods, while Russia is leaving the door open to shipment bans and said it’s assessing the situation weekly.

Though food supplies are ample, logistical hurdles are making it harder to get products where they need to be as the coronavirus unleashes unprecedented measures, panic buying and the threat of labor crunches.

Read the full report here.

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