VOX reports that, Although initial conditions in global food markets in the face of COVID-19 pandemic are good, disruptions across countries most affected could reduce global supplies of key staples.
Escalating export restrictions would multiply the initial shock by a factor of three, with world food prices rising by up to 18% on average.
Import food dependent countries, which are in large majority developing and least developed countries, would be most affected. Uncooperative trade policies could risk turning a health crisis into a food crisis.
Further reading
- Global shoppers pinched by rising food prices
- Tesco boss: worst food prices still to come
- Covid-19 has led to food crisis, says Italy’s Draghi
