WillAgri
We know that soaring bread prices or food shortages cause revolutions. If the Covid-19 crisis has (still) caused only a few supply disruptions – without serious consequences because of the confinement – it is heating up people’s spirits. It is rekindling heated debates on self-sufficiency. Everywhere, rich and poor countries combined – from Brazil to India, Quebec and Qatar – the crisis is fuelling agricultural nationalism, even though only ten countries have so far imposed restrictions on their exports. Yet the global supply chain is holding up well. Governments have learned the lessons of 2008. According to The Economist, in terms of calories, only 5% of agricultural exports were subject to restrictions compared to 19% in 2008! According to the United Nations, the share of the world’s population living under the threat of food shortages could double from 1.7% to 3.4%. But the main reason would not be any disruption of supply but a drop in income.
WillAgri