World
Countries Rush to Hoard Food as Prices Rise and Covid Worsens
- Jordan, Pakistan and Egypt among countries to boost purchases
- Pandemic stokes fears of supply disruption, empty shelves
Sept. 4: Pandemic Exacerbates Food Poverty
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Agricultural commodity buyers from Cairo to Islamabad have been on a shopping spree since the Covid-19 pandemic upended supply chains.
Jordan has built up record wheat reserves while Egypt, the world’s top buyer of the grain, took the unusual step of tapping international markets during its local harvest and has boosted purchases by more than 50% since April. Taiwan said it will boost strategic food stockpiles and China has been buying to feed its growing hog herd.