The world's second largest economy, which has limited arable land, is facing pressure to shore up its food supplies as prices for food started ticking higher last year, prior to the virus outbreak.
Those blockages have highlighted the vulnerability of global supply chains, and fears of food shortages have come to the forefront of countries, both in developed and emerging economies. "People there are panicked that coronavirus will eventually shut down the world's ports, making it impossible for them to import," said Arlan Suderman, chief commodities economist for INTL FCStone in a tweet on Monday. "As such, they are hoarding supplies now while they are cheap and available."
As for rice, China is the world's largest producer of the staple grain with most of its supplies being consumed domestically.
Time to buy Walmart and Cost stock again!
Bullish?
No mention of Phase One of the trade deal with the USA? This is increase of imports is positive for fulfilling the trade deal and keeps global trade going.
More like building up food and oil becaue it's about to do something big agains the US
No they are getting ready for war...
Our government better be paying attention to this.
Conversations between P. Poroshenko, J. Biden and J. Kerry, confirming the facts of international corruption, treason and external governance of Ukraine
Still promoting China
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Source: BusinessInsider - 🏆 729. / 51 Read more »