Global Food Crisis – Prices Soar, Crops Rot: WSJ

The Covid-19 pandemic combined with protectionist restrictions has disrupted food processing and transportation, resulting in waste at farms and shortages in stores. Perishable vegetables and products like milk are at high risk, while prices for wheat, rice and other staples climb. The Wall Street Journal article offers numerous examples of food-chain disruptions and worries. The world confronts an unusual food crisis om both the supply and demand sides, notes the chief economist at the UN’s World Food Program. The World Food Programme warns that more than 30 nations could face famine even as some nations impose export restrictions, for example eggs from Thailand and wheat from Russia. Hoarding and panic-buying add to challenges. Analysts warn that food shortages and hunger could contribute to increased crime, conflict and political unrest. – YaleGlobal

Global Food Crisis – Prices Soar, Crops Rot: WSJ

Food processing, transportation breakdowns, protectionism and hoarding threaten vulnerable nations; one analyst describes "food crisis with lots of food"
Yaroslav Trofimov and Lucy Craymer
Thursday, May 14, 2020

Read the article from the Wall Street Journal about a global food crisis.

Yaroslav Trofimov is the chief foreign-affairs correspondent of The Wall Street Journal. He joined the Journal in 1999. Lucy Craymer is a Hong Kong-based reporter covering farming, agricultural commodities and trade in the region. She joined the Journal in 2010. Krishna Pokharel in New Delhi, Gbenga Akingbule in Abuja, Nigeria, and Waqar Gilani in Islamabad also contributed to this article.

Major Exporters Food/Agricultural Products, Percent of World Total Value			1995	2005	2010	2017 US	12%	9%	10%	9% Netherlands	10%	8%	7%	8% China	3%	4%	5%	5% Germany	6%	7%	6%	6% Brazil	3%	4%	5%	4% France	8%	6%	5%	4% Canada	3%	4%	3%	3% Thailand	3%	2%	3%	3%
Food security: Researchers suggest that nations, rich and poor, should focus on crops that work best with their water supply, soil quality and more (Source: WorldAtlas and Knoema)

Major Importers Food/Agricultural Products, Percent of World Total Value				 	1995	2005	2010	2017 US	8%	10%	8%	10% Netherlands	5%	4%	4%	5% China	2%	2%	2%	5% Germany	10%	8%	7%	6% UK	6%	6%	5%	4% France	7%	5%	5%	4% Japan	12%	8%	6%	5% Italy	5%	5%	4%	3%
World markets: By the year 2050, World Atlas suggests that more than half of the world’s population is expected to rely on food sourced from other countries (Source: WorldAtlas and Knoema)

Countries:  Food Imports, Percentage of Merchandise Imports 		 		 Cabo Verde	30%	 Timor-Leste	30%	 Afghanistan 	32%	 Euatorial Guinea	32%	 Sierra Leone	33%	 Kirbati 	41%	 Eritrea	46%	 Yemen	47%	 Benin	48%	 Guinea-Bissau	50%
Food shortages: About 30 countries could face food shortages and famine due to the Covid-19 pandemic (Source: World Bank)

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