Coronavirus
Posted on: 13/03/20
One prediction from the US Dairy Export Council claims a combination of reduced global demand and a backlog of product sitting in Chinese ports (particularly in the port of Shanghai) as well as heaps held up in distribution depots as a result of the virus could reduce global dairy prices by up to 7% this year.
The backlog is tipped to take months to clear and return to “normality” with what are predominantly dried non-perishable dairy products with numerous ships anchored off shore waiting to dock.
The number of confirmed cases in China and deaths appear to be declining rapidly on a daily basis. Let’s hope the same happens in the other 124 countries with confirmed cases.