Analysis: COVID-19 and Food Security: Challenges and Opportunities in Emerging Markets
By Oxford Business Group
The UN’s World Food Programme (WFP) has warned that 265m people globally could face acute food insecurity by the end of the year – double the figure before the pandemic.
This dramatic spike is based on a number of factors. For example, the lockdown measures have led to severe labour shortages in key agricultural areas, meaning that many crops were simply left to rot in fields.
This was compounded by disruptions to local and international supply chains, which meant that some produce did not make it to markets, suppliers or export hubs, placing a further strain on supplies.
As a result of shortages, the prices of key staples increased, which meant that many people in lower socio-economic demographics were unable to afford basic goods.
These factors have combined with existing challenges, such as the impact of climate change on agricultural yields, to create an acute food security challenge. In light of this, countries around the world have been proactive in trying to stabilise food supplies.
Photo courtesy of Climate Change, Agriculture and Food Security.