Technically Speaking: COVID-19’s impact on trade, food security

The COVID-19 pandemic has had an impact on trade and food security, disrupting the supply chain and forcing people to change the way they eat and purchase food almost overnight. This has created food challenges around the globe as countries continue to deal with the health crisis.

Alyson Segawa, Specialty Soya and Grains Alliance (SSGA) Technical Adviser for North Asia, recently attended a webinar put on by the Washington International Trade Association and learned more about crisis’ impact. SSGA is a member of WITA.

Here are some of key findings and themes from the webinar, called, “COVID-19 & Trade: Is the Global Food Supply Chain Holding Up?”:

With 1 in 5 calories eaten crossing at least one international border, lockdowns due to the virus have begun to affect the supply chain, causing logistical issues in food trade, including access to markets and shipping slowdowns. Labor shortages have disrupted and slowed trade operations, while layoffs and wage decreases have reduced purchasing power. Social distancing has reduced access to urban markets.

Traditional responses and solutions to previous food crises – such as the price crisis in 2007-08 when there were weather-related shortages, export bans and high energy prices – may not be enough in the current situation.

Global food trade needs to be sustained through the crisis to avoid long-term problems. Investing in and maintaining funding for agriculture and food security and stabilizing prices will be key to maintaining a stable global food supply moving forward.

Technically Speaking includes news and information from SSGA’s technical advisers for North Asia, Southeast Asia and Europe.