"Economic Impacts of COVID19 on Food and Agricultural Markets"
Presenters: Jayson L. Lusk, Ph.D., Purdue University; Timothy J. Richards, Ph. D., Arizona State University; Alison F. Davis, Ph.D., University of Kentucky; and John D. Anderson, Ph.D., University of Arkansas
This CAST Commentary and Student Self-Study Guide are available at www.cast-science.org/publications.
This paper examines the many economic factors and impacts of the COVID-19 pandemic, with a focus on the agriculture sector. In efforts to slow down the spread of COVID-19, many states and countries shut down several economic areas such as tourism and entertainment venues, restaurants, personal services, and some manufacturing facilities. This has led many areas into a recession. The authors of this paper examine the effects this recession has on these topics: macroeconomics; trade; supply chain; consumer behavior; food service/grocery; meat processing; forestry and wood products; local food systems; food waste; food insecurity; major commodity crops; agricultural finance; agricultural labor; rural health care; and research and outreach priorities.
