News: China arranges stocks and oil supplies as Coronavirus spurs fear shortages
After new cases of COVID-19 were discovered in China, consumers have started to stock up oil and other supplies as fear for the pandemic grows globally. The country reported 82% higher meat imports in the first four months of this year as compared to last year. The imports comprise poultry, pork, and beef as the major constituent among others.
Senior Asia Risk Analyst, Kaho Yu, at Verisk Maplecroft said, "We expect food stockpiling to continue especially in cities exposed to logistic disruption. The confluence of expected food price increases alongside an economic contraction and rising unemployment will push up the risk of civil unrest."