World Grain - November 2020 - 36

FEATURE: COVID-19'S LASTING IMPACT

FOOD SECURITY
From a food security standpoint, the pandemic has
caused many countries to alter their grain supply
chain strategy from "just in time" to "just in case,"
Nicholson said.
"Countries are now thinking that if this happens
again, we don't want to be short," he said. "In the case
of China, they are currently rebuilding stocks but are
also to the point where they don't want to get caught
again where they have to depend on a supply chain that
might be fractured during a pandemic or some other
type of catastrophe."
One of the long-term trends that Rabobank is projecting postCOVID-19 is a global decline in demand for animal feed.
36	

WG_Nov20.indb 36

China has imported huge amounts of corn and soybeans in recent months with the intention of increasing
its grain reserves. Other countries also are employing a
similar strategy, which Nicholson said is a good news/
bad news situation for the grain and oilseeds sector.
"It's good in the short term but long term we may have
this huge inventory acting as a cloud over the market,"
he said. "We have to think about that going forward."
DEGLOBALIZATION AND GOVERNMENT INTERVENTION
Food security, geopolitical and food safety issues also
are causing the acceleration of the deglobalization
trend that already was occurring prior to COVID-19,
Nicholson said, adding that the world is likely to see
more regional and bilateral agreements even after the
pandemic ends.
The report predicted that "countries will turn inward
to promote domestic food production/markets and selfsufficiency and turn outward to cultivate 'favored trade
partners.'" This would hurt the competitive advantage
of major exporting countries and, to a certain degree,
multinational grain traders, Nicholson said.
"This kind of goes back to the increased government
intervention (in grain markets) as countries want to
make sure it's a situation where they don't have any
sort of disruption in supply," he said.

©dusanpetkovic1 - stock.adobe.com

fresh produce and the deli are located," Nicholson said. "But during
the pandemic they have started going
to the middle of the store and buying
more cereal, pasta and other grain and
oilseed-related products. It changed the
dynamic there, and I believe every day that
goes by in the pandemic cements these new habNicholson its in the consumers' mind. Once we get past COVID,
those habits will become normal."

November 2020 / World Grain / www.World-Grain.com

11/2/2020 4:08:31 PM


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World Grain - November 2020

Table of Contents for the Digital Edition of World Grain - November 2020

World Grain - November 2020 - 1
World Grain - November 2020 - 1
World Grain - November 2020 - 2
World Grain - November 2020 - 3
World Grain - November 2020 - 4
World Grain - November 2020 - 5
World Grain - November 2020 - 6
World Grain - November 2020 - 7
World Grain - November 2020 - 8
World Grain - November 2020 - 9
World Grain - November 2020 - 10
World Grain - November 2020 - 11
World Grain - November 2020 - 12
World Grain - November 2020 - 13
World Grain - November 2020 - 14
World Grain - November 2020 - 15
World Grain - November 2020 - 16
World Grain - November 2020 - 17
World Grain - November 2020 - 18
World Grain - November 2020 - 19
World Grain - November 2020 - 20
World Grain - November 2020 - 21
World Grain - November 2020 - 22
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