Briefs
/ Policy brief
Europe and Central Asia: Regional food market situation and policy bulletin in response to the COVID-19 pandemic
According to the FAO Global Information and Early Warning System (GIEWS), cereal production in 2019 and the estimated closing stock in 2019/20 are both near record highs and supplies in Europe and Central Asia (ECA) and around the world are estimated to be sufficient. As a result, global cereal markets are expected to remain balanced and comfortable despite worries over the impacts of the COVID-19 pandemic.
However, localized disruptions, largely due to logistical issues, have caused some snarls in food distribution systems and food supply chains in some domestic markets. Though the anticipated duration and magnitude of these disruptions are unlikely to significantly affect global food markets, the regional and national food markets need to be monitored closely.