In cities around the world, reports of panic buying and food hoarding have proliferated since the pandemic began. On the supply side, stockpiles could quickly be depleted as the virus disrupts food production and distribution. Also, shortages of animal feed, fertilizers, and pesticides have increased both the costs of farming and the risk of bad harvests.

Furthermore, many major food-producing countries have imposed export bans or quotas in response to the pandemic, as Russia and Kazakhstan have done for grain, and India and Vietnam have done for rice. Meanwhile, other countries are stockpiling food through accelerated imports, as is true of the Philippines (rice) and Egypt (wheat).

With the pandemic threatening to wreak even more economic havoc, governments must work together to address the risk of disruptions to food supply chains. It is also the responsibility of businesses to invest in more sustainable methods of production, consumers to reduce food waste, and investors to seek more meaningful impactful investments.