Agricultural industry and food security - The impact of COVID-19
Issues surrounding the state of agriculture and food security had already arisen prior to the COVID-19 outbreak, with the global pandemic only serving to highlight these issues further. The pandemic has revealed a crisis of planning and production in the agricultural process, which in turn is likely to lead to significant food shortages in the most vulnerable regions. This case study identifies the impact the pandemic is having on the agricultural industry as a whole, the effect that this will have on food security and how the disruptions could act as a catalyst for positive change.
- The global COVID-19 pandemic has had an impact on virtually every market/industry around the globe and the agricultural industry is no exception. The restrictions brought about by the pandemic have had a profound impact across the entire supply chain of the agricultural industry, which has had a number of impacts for both consumers and companies alike. Labor shortages and supply chain disruptions at slaughterhouses have had the biggest impact, leading to a shortfall in agricultural production and the depopulation of livestock.
- Prior to the COVID-19 pandemic, food insecurity, particularly in certain regions, had been a major concern amid the growing global population, with the number of hungry and malnourished on the rise. The disruptions the pandemic has caused to the agricultural industry will only serve to increase the prevalence of food insecurity in low income and developing countries, which will have huge human and economic costs. Locust plagues in East Africa and India are exacerbating the situation, with vital crops being eradicated, causing food shortages and threatening agricultural industries and food security.
- While the negative impacts of the COVID-19 crisis are widespread and costly, the pandemic has highlighted a number of inefficiencies across the supply chain and could serve as a catalyst for positive change within the industry. Already, the EU has identified the pandemic in its most recent food policy, planning contingency plans for ensuring food security in the future. The pandemic is also likely to renew interest in the prevention of emerging infectious diseases, as well as speed up investments in agri-tech, particularly that of which provide innovative supply chain solutions.
Reasons to Buy
- Learn what issues COVID-19 has created in agriculture
- Find out what possible solutions there are
- Examine the risks to global food supply chains
- See how changes could better protect us in future
- How dangerous is the situation in agriculture?
- Are there solutions to protect us in future?
- Are there opportunities to innovate in the industry?
- How can this be counteracted?
- 1. OVERVIEW
- 1.1. Catalyst
- 1.2. Summary
- 2. COVID-19 PANDEMIC IS CAUSING MAJOR DISRUPTIONS ACROSS THE AGRICULTURAL INDUSTRY
- 2.1. Agricultural commodities have remained relatively stable
- 2.2. Protectionism could lead to price increases
- 2.3. Labor shortages are a major concern for producers
- 2.4. Supply chain issues are having a devastating impact on the meat and livestock segment
- 2.5. Government aid has been introduced to support workers across the industry
- 3. DISRUPTIONS WILL CAUSE INCREASED FOOD INSECURITY IN THE MOST VULNERABLE REGIONS
- 3.1. Food insecurity, hunger and malnutrition have been on the rise in recent history
- 3.2. Food insecurity will become even more prevalent in low income countries
- 3.3. Locust plagues are exacerbating the situation in East Africa and India
- 4. THE COVID-19 CRISIS PRESENTS NEW OPPORTUNITIES WITHIN THE AGRICULTURAL INDUSTRY
- 4.1. Farm to Fork strategy in the EU
- 4.2. Renewed interest in preventing emerging infectious diseases
- 4.3. Automation will pick up pace
- 4.4. Investments into new agri-technology will accelerate
- 5. APPENDIX
- 5.1. Abbreviations and acronyms
- 5.2. Sources
- 5.3. Further reading
- 6. ASK THE ANALYST
- 7. ABOUT MARKETLINE
- List of Figures
- Figure 1: Wheat and rice prices(January 2019- April 2020)
- Figure 2: United Kingdom agricultural products market category segmentation: % share, by value, 2018
- Figure 3: United States meat & livestock market geography segmentation: % share, by value, 2018
- Figure 4: Global number of individuals undernourished 2007-2017
- Figure 5: Locust swarms are exacerbating food shortages
- Figure 6: Farm to Fork strategy
- Figure 7: Zoonotic diseases have become increasingly prevalent