"The hoarding is taking place in China.
Less than 20% of the world’s population has managed to stockpile more than half of the globe’s maize and other grains,
leading to steep price increases across the planet and dropping more countries into famine."
China is maintaining its food stockpiles at a “historically high level,“ Qin Yuyun, head of grain reserves
at the National Food and Strategic Reserves Administration, told reporters in November.
“Our wheat stockpiles can meet demand for one and a half years. There is no problem whatsoever about the supply of food.”
According to data from the U.S. Department of Agriculture, China is expected to have 69% of the globe’s maize reserves in the first half of crop year 2022,
60% of its rice and 51% of its wheat.
The projections represent increases of around 20 percentage points over the past 10 years, and the data clearly shows that China continues to hoard grain.
In the January-September period of 2021, China imported more food than it had since at least 2016, which is as far back as comparable data goes.
Over the past five years, China’s soybean, maize and wheat imports soared two- to twelvefold on aggressive purchases from the U.S., Brazil and other supplier nations.
Imports of beef, pork, dairy and fruit jumped two- to fivefold.
(My Comment): This will reflect on inflated prices for feed and grain for meat livestock, as well as more immediate price disparity for morning cereals.
Inflation, plus supply chain chaos equals more financial and economic shock !
"Emptybiden shelves" is no longer a meme.
Plan accordingly !
Read the entire OP and comments for severity and understanding what this portends.
Well, the globe gave it to them and keeps on giving it while having empty shelves at home.