The pandemic has shrunk farmers’ incomes while inflating the price of staple foods and fresh produce, says an observer.
The pandemic is shining a spotlight on Asia’s stark inequalities. Household food consumption and nutrition may be significantly affected by loss of jobs and income as well as by limited access to food. The economic slowdown has already dealt a devastating blow to vulnerable workers in developing countries.
A particular concern is the nutrition status of those most vulnerable to the crisis. As schools close, school meal programs are being suspended, significantly affecting access to healthy and balanced diets for children in low-income households. Still, should the lockdowns be extended, labour and input supply shortages could reduce the scale of crop production. Prolonged disruptions in food supply chains and higher costs in logistics would also limit smallholder farmers’ choices of better priced markets, negatively affecting farm incomes.BOLD INTERVENTION NEEDED
It is critical to provide financial relief and liquidity support to farmers, agribusinesses and food processors who are under financial stress.Many governments in the region are rolling out fiscal measures aimed at cushioning the immediate impact on farmers, agri-firms and other stakeholders along the food supply chain by providing loans and subsidies for working capital and allowing for debt rescheduling or restructuring.
People wait for rice donation in front of Saint Joseph Cathedral during the coronavirus disease outbreak in Hanoi, Vietnam April 27, 2020. These challenges include a lack of financing or public-private cooperation, cumbersome regulatory environments and policy inconsistencies across various economic sectors.The COVID-19 crisis is an opportunity for developing economies to start implementing long-sought agricultural reforms.
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