The lockdowns followed by corona virus pandemic across the world has laid to increased food hoardings , affecting the global food chain.
Many countries have stopped exporting agricultural products such as wheat, sugar etc.
Kazakhstan is one of the world’s biggest exporters of wheat flour but it has banned exports of wheat as well as carrots, sugar and potatoes.
Vietnam temporarily suspended new rice export contracts.
Serbia too, has stopped the flow of sunflower oil and some other goods, while Russia is leaving the door open to shipment bans and said that it has been assessing the situation weekly.
The affect of this has already started to be seen. The consumers have started filling up their pantries and although the stock is in abundance, the problem is with distribution due to the Lockdown.
Since the movement and gathering of people has been restricted, it is causing panic buying among the customers
The countries doing so are only thinking about their domestic requirements and not the global trade. It can lead to disruption in the internation system, which has been inter- connected since a decade for the major trade.
“If governments are not working collectively and cooperatively to ensure there is a global supply, if they’re just putting their nations first, you can end up in a situation where things get worse,” said Benton of Chatham House.