Another Coronavirus Shock: Rice, Wheat Prices Surge As Countries Hold On To Food Grain Stocks

A recent report of the International Grain Council said it was aware of the sharp upturn in the near-term demand of rice amid movement constraints and quarantine measures, according to the Reuters report.

“Unlike other sectors, agriculture is heavily affected by the timing of the lockdown rather than the duration because of the strict planting and harvesting calendar,” Samarendu Mohanty, Asia regional director at the Peru-based International Potato Center, told Reuters. “If the planting season is missed, there will be no crop for the season or for the entire year.”

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