The spread of COVID-19 has consequences for international grain markets, as well as for food security and nutrition across the world. Stockpiling became the main topic of the grain trade in 2020 and it pushed both importers and exporters to make a lot of amendments in their policies. While COVID-19 is likely to have long-lasting consequences for the grain markets, the size of the impacts will depend on the economic recovery pathways.
The global economic contraction caused by the COVID-19 pandemic in 2020 is the sharpest on record. The pandemic has had a devastating economic effect around the world. Since the COVID-19 crisis began, global GDP has fallen by 4.2%. The outbreak of coronavirus has been also affecting global agri‑food value chains and demand for food. The rapid spread of COVID-19 forced hard choices on global policy‑makers. As many countries implemented necessary social distancing practices in response to the pandemic, an unprecedented and multifaceted crisis unfolded. Many countries faced multiple challenges in public health, the economy and food security.
In agriculture and food, primary production, processing, trade, logistics and demand are being affected. The movement restrictions and border closures implemented around the world to contain the pandemic have affected food value chain logistics, disrupted the flow of agricultural inputs and outputs and agriculture‑related services. Despite the uncertainties caused by the rapid spread of COVID-19 around the world, global food markets remained well balanced.
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- Flour industry succeeds despite Covid-19 danger
"The flour and bakery products industry passed a major test in 2020 while the world commodity trade contracted by 7 percent due to the pandemic. The market shelves were empty especially at the beginning of the pandemic due to the increasing demand for flour, pasta and pulses, which are among staple food, and the global panic atmosphere. However, thanks to the strong dynamics of the industry at home and abroad, the shelves were managed to be filled within a short time, and nobody was left without products due to the pandemic."
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- Flour milling in the age of Covid-19
“At the GoodMills Group, we were not immune to the effects of the pandemic, but through a culture of working together, thinking outside of the box and being flexible and adaptable we managed to maintain our significant contribution to the nourishment of the population of Central and Eastern Europe. The new 20/21 season will remain a challenge, but we know we have the right team to deal with it and to deliver what is expected from us!”
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- 2020 grain trade: Faster, higher, stronger
COVID-19 impacts on milling and grain trade 2020 was impressive. Sounds like wheat, corn and barley crops 2020/21 are not bad, herewith, the world trade, anyway, is going wild under cover of stockpiling and COVID uncertainty. The Olympic motto “faster, higher, stronger” in this article will have another concept. Trading history 2020 with all its pros and cons is covered below. Metal Bull year promises to be bullish so far…
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- The COVID-19 impact on grain trade
COVID-19 brought about disruption to the global economy and world trade. As a result, production and consumption are scaled back across the globe. Does the proverbial tightening of purse strings translate to the same extent in grain markets?
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