Skip to content
Investment

COVID-19 Likely To Push More People Into Agriculture

BY Soko Directory Team · October 23, 2020 01:10 pm

Stats indicate that agriculture sectors globally have shown the highest increase in people returning to work since July, immediately governments started easing restrictions imposed to combat the spread of COVID-19.

COVID-19 pandemic has disrupted the economy and the formal sector has been hit hardest, pushing many more into self-employment for survival after pay cuts and the mass layoff of workers by companies.

Many unemployed people decided to return to rural areas where many have large pieces of land to embark on farming following the high standards of living in urban centers after being laid off from their places of work.

Increasing cases of food insecurity during the COVID-19 pandemic are another trigger, many countries and organizations are mounting special efforts to keep agriculture safely running as an essential business, markets well supplied with affordable and nutritious food.

The COVID-19 crisis unfolds, disruptions in domestic food supply chains, other shocks affecting food production, and loss of incomes and remittances are creating strong tensions and food security risks in many countries.

Several Countries are realizing the importance of growing their own food and being less dependent, now that exportation and importation had been disrupted by the COVID-19 pandemic, increasing the levels of food insecurity.

Besides, since food is a necessity that continued to be produced and shipped even under the strictest lockdown conditions. Governments were allowing movement of cargo that included food supplies even during lockdowns, many farmers can take advantage of this, in case the pandemic bits even harder.

Small-scale farmers were vulnerable as they are hindered from working on their land/accessing markets to sell their products or buy seeds and other essential inputs, but as restrictions are eased and unemployment raising, farming is the best alternative.

Experts warned that the COVID-19 period has been characterized by pay cuts and the mass layoffs of workers pushing thousands into self-employment in businesses such as farming and grocery.

The World Bank Group is working with governments and international partners to closely monitor domestic food and agricultural supply chains, track how the loss of employment and income is impacting people’s ability to buy food, and ensure that food systems continue to function despite COVID-19 challenges.

How COVID-19 Has Escalated Food Insecurity

According to the World Bank, the primary risks to food security are at the country level as the COVID-19 crisis unfolds, disruptions in domestic food supply chains, other shocks affecting food production, and loss of incomes and remittances are creating strong tensions and food security risks in many countries.

Despite stable global food prices, numerous countries are experiencing varying levels of food price inflation at the retail level, reflecting supply disruptions due to COVID-19, currency devaluations, and other factors. Rising food prices have a greater impact on low- and middle-income countries since a larger share of income are spent on food in these countries than in high-income countries.

The World Bank report indicates that higher retail prices, combined with reduced incomes, mean more and more households are having to cut down on the quantity and quality of their food consumption.

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

Trending Stories
Related Articles
Explore Soko Directory
Soko Directory Archives