WillAgri
The coronavirus crisis is causing instability in agricultural markets. Following China’s highly pro-active policy to rebuild its pork herd, 40% of which was wiped out by swine flu over the past two years, pork prices were easing at the start of the year. But a new hike is on the cards. Indeed, with the spread of the virus, imports are now being blocked in ports, and certain goods are forbidden from entering the country. It will take longer for the Chinese pig herd to recover, which will lead to new imports and a rise in prices. Conversely, prices for the main cereals fell by 5% due to fears on financial markets caused by this health crisis. This has also been the case for milk powder, for which prices have fallen by 7% since the beginning of January. As for rapeseed, prices have tumbled by 10% since 13 January 2020.
Source: Agritel