Scarcity becomes common (The Bull)

The Bull (Australia) published an article stating that the impediments to supply are likely to last and disrupt growth and provoke inflation. The main reason for shortages is the fear of shortages and how people and countries respond to that. The panic-driven hoarding that emptied supermarkets of basic goods at the start of the COVID-19 pandemic is reappearing in other forms. IFPRI said by early April at least 16 countries had banned export amounting to 17 percent of traded calories to stockpile local supplies. The list includes India outlawing wheat exports and Malaysia forbidding poultry trade at a time when 80 percent of the world lives in countries that are net importers of food. (See tool, Food & Fertilizer Export Restrictions Tracker).