The COVID-2019 pandemic as a trigger of new food crisis

Abstract

Subject. The article discusses the protection of national commodities markets and the national food security during the coronavirus pandemic. Objectives. The study is to theoretically substantiate processes and events that influence decisions of some national governments to ensure the availability of food products. Methods. The study is based on methods of the logic, statistical and graphic analysis, comparison and analogy, synthesis and generation of new knowledge. To analyze the current situation through the analytical review method and graphic presentation, we evaluate the current circumstances in the global food market. Results. Trying to get a comprehensive understanding of the current processes, we need to analyze the surrounding circumstances worldwide in 2020 and consequences of national decisions. Thus, we analyzed pricing trends in the global food market, conclude on the need in the uninterrupted agricultural season in 2020. We focus on escalating crisis tendencies as the coronavirus pandemic gains momentum. Conclusions and Relevance. As some countries go for paternalism to protect their domestic commodity markets, they will manage to curb the growing crisis for a certain period of time. As emerging economies depend on imports of food, they will face a more complicated situation, thus urging new migration flows to more advanced economies. There are pretty gloomy forecasts on the 2020 agricultural season and harvest, which will make countries financial support the sectors that were most hit by the new pandemic.