UN FAO econom­ist says supply is not an issue but behavi­oural change over food securi­tySINGAPORE: Lockdowns and panic food buying due to the coronavirus pandemic could ignite world food inflation even though there are ample supplies of staple grains and oilseeds in key exporting nations, a senior economist at FAO and agricultural analysts said. “All you need is panic buying from big importers such as millers or governments to create a crisis,” said Abdolreza Abbassian, Chief Economist at the United Nations’ Food and Agriculture Organisation (FAO). However, global wheat stocks at the end of the crop marketing year in June are projected to rise to 287.14 million tonnes, up from 277.57 million tonnes a year ago, according to the US Department of Agriculture (USDA) estimates. World rice stocks are projected at 182.3 million tonnes as compared with 175.3 million tonnes a year ago. Food in the right placeLogistics are likely to be a major global issue, analysts said.

Source: The Express Tribune March 21, 2020 05:15 UTC