Food Shortages? Many Countries Have Begun to Restrict Grain Exports.
Introduction
COVID-19 has spread around the world, triggering panic food hoarding in countries. Many countries have launched national stockpiling plans to increase their grain reserves.
Some countries have begun to restrict grain exports. Vietnam bans rice exports. Kazakhstan has banned exports of wheat, carrots, sugar and potatoes. And Serbia has halted exports of goods such as sunflower oil. On March 28 local time, Nevin Jamey, Egyptian Minister of Trade and Industry, decided to stop exporting various legume products within the next three months from that date.
Will restrictions on food exports trigger a global food crisis? Some experts believe that the risk of triggering a global food crisis is a high probability event if the world epidemic is not effectively controlled in the later period.
The most pessimistic forecast is that there will be a significant decline in global food production in 2020 in view of locusts, forest fires, viruses, flu etc. Some food importing countries have begun to take precautions. Major wheat importing countries such as Algeria and Turkey have issued new tenders, while Morocco has suspended wheat import duties until mid-June. Some countries have declared food shortages if the outbreak will not end in June.
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