Rabobank: The Next Phase Of The Crisis – Food Shortages In Staples Such As Rice, Sugar, Corn And Eggs

USSA News ^ | 4-29=2020

[blam]

Where’s the Beef?

As we approach a long weekend (China shuts for the May Day holiday on Friday, and most of the rest of the world celebrates the following Monday), the prevailing sentiment is still moderately risk on – or at least that is what one would assume when looking at USD, which has been on the back foot the last few days. This is presumably because of the ‘victories’ being seen in various places against the virus. Unfortunately, in market terms we once again have to reiterate that this is a case of finding the potatoes but missing all the beef – because the economic damage is only just beginning. And it is terrifying.

Let’s start with the beef. Literally. Long before Covid emerged I was muttering darkly to colleagues that in a future more mercantilist, more militarised world disorder I could imagine food security meaning something far less ‘benign’ than it does today: not so much the ‘can I get food?’ demand side, but the ‘we have the food but aren’t sure we want you to have it’ supply side. Recent developments on wheat in Russia and rice in Vietnam may not have a deliberately Machiavellian bent to them, but they still take us closer to that kind of backdrop.

Meanwhile, with virus lockdowns hitting the supply side we have had reports of Indonesian provinces facing food shortages in staples such as rice, sugar, corn, chili, eggs and shallots. (I can personally report there are no eggs and almost no butter where I reside for now, and have not been for weeks.) Now we see headlines about potential meat shortages, even in the US, due to shutdowns of virus-struck meat processing plants in the States, Brazil, and Canada, who together account for around 65% of world production.

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[1Old Pro]

the dire warnings are going to cause hoarding and cause the shortages.

Yep, what amazes me is that the toilet paper manufacturers can't keep up with the hoarders.

[metmom]

I can’t believe people are still hoarding it.

I have found TP at BJ’s mostly because they are limiting purchases to 1 package per person.

[PUGACHEV]

The spot price of rice as a commodity has tripled since the end of February.

[Bob434]

[[I’ve not seen shortages or inflated prices anywhere.]]

You haven’t’ been to Amazon lately? $20 for a 24 pack of pepsi that i can buy in walmart for $8- Amazon sellers are really price gouging right now- but yeah- local shops like walmart I’m not seeing increased prices either- I am however seeing shortages- 2 months now- people still are panic buying- many many empty shelves- Things like flour, noodles, sugar, canned stuff like soups, canned meats, things like pickles- all bare shelves- toilet paper- forget a bout it- lysol, hand sanitizer, isopropyl alcohol- nope- they are all more rare than big foot-

[cherry]

hey YOU caused the lockdown and if there are any shortages, YOU caused them....YOU and people like you did this....

[Bob434]

and the dumb thing is, we live in an area where there are only 22 known cases of the virus (45 suspected)- none in the towns around us except for town where they have one known case-

I think the city folks, according to the cashiers I talked to, are coming up and wiping us out- still- their stores must be really bare if that’s the case- but i think even folks around us have been panic buying too once they saw the stores getting emptied-

[cherry]

I’m not hoarding but if I go into town I’m bringing something back...even though spouse says our freezers are pretty full already....

[TheConservator]

I was at the Tumwater, WA Costco yesterday around noon. My first time back in public in about a month. Had to pick up some prescriptions.

The store was moderately busy. About 60% or so of the shoppers were wearing masks (and 100% of the help).

There was no way to maintain strict social distancing in the aisles. But they had plenty of checkers to ensure there was no crowds at the check out (which was nice).

Meat was available. But it was not ample. Multiple empty spaces in the referigerated meat racks. Some of the meat was priced a dollar or two higher a pound than I remembered from my last visit.

They were announcing that effective Monday, no one would be allowed in the store who wasn’t wearing a mask.

[ClayinVA]

As for the Amazon prices, you are not factoring the fees Amazon charges to sell on their platform. Amazon takes at least a 1/3 of the sell price and shipping takes another 1/3.

[CodeToad]

” I’ve not seen shortages or inflated prices anywhere”

I have. There are bare shelves many times in many places.

[Bob434]

[[As for the Amazon prices, you are not factoring the fees Amazon charges to sell on their platform.]]

These prices jumped after the virus came on the scene- they jumped a lot- these folks are gouging- things i could get a few months ago for around $4 are now $12-14 dollars- same product- same sellers- new inflated prices-

[Bob434]

Walmart ships too- they haven’t jacked their prices up double and triple during the virus

[JCL3]

[[As for the Amazon prices, you are not factoring the fees Amazon charges to sell on their platform.]]

These prices jumped after the virus came on the scene- they jumped a lot- these folks are gouging- things i could get a few months ago for around $4 are now $12-14 dollars- same product- same sellers- new inflated prices-
_____________________________________________________________

Somebody “Better Call Saul” so they did.

Amazon Class Action Alleges Massive Price Increases
https://topclassactions.com/coronavirus-covid-19/amazon-class-action-alleges-massive-price-increases/

[Patriot Babe]

ROFL

[1malumprohibitum]

A couple of days ago my Costco had no chicken and almost no Pork of any kind. I have never seen that before. A lot of the meat they did have was Grey. Usually Costco has fantastic meat which always looks fantastic. I thought we might have a couple weeks before shortages / interruptions. Went to Wal Mart and Winco and they had Chicken & good selection of meats.

My opinion is that we are already seeing hiccups in supply. It will get worse before it gets better. If your stores have meat, buy it now.

[Alas Babylon!]

I went to my local Walmart this morning, and it was out of more food than the entire time this thing has been going on.

I don’t know why. But wiped out in the following:

Cottage cheese

Frozen Shrimp

Orange juice

Fish sticks or fillets

Grapes

Leaf or Romaine Lettuce — Only iceberg available

Tomatoes — only cherry tomatoes available

Hand soap refills

Vitamin C

Hamburg and hotdog buns

I guess I could shop around to different locations but I’ve always hated shopping and in these times, I’m not going to endanger myself.

[BobL]

“hey YOU caused the lockdown and if there are any shortages, YOU caused them....YOU and people like you did this....”

Sucks, doesn’t it. We stalled the spread just long enough to now have a promising cure be identified.

[Bob434]

yeah, amazon claims they are ‘cracking down’ on the price gougers, but there are still a ton of sellers gouging- here’s just oen example-

36 12oz cans for $55 dollars

https://www.amazon.com/Pepsi-Cola-oz-cans-ct/dp/B01L60ZI3Q/ref=sr_1_33?dchild=1&keywords=pepsi&qid=1588183398&sr=8-33

Granted- not all the sellers are gouging- Amazon is cracking down on some- or so they say- I notice now that soem sellers of 12 packs are now about $5 which is where they should be almost- but a few weeks ago there was nothing under $10 for a 12 pack- $20 for a cube-

[Bob434]

We are finding the same thing-

It’s insane some of the things people are stocking up on-

Our local Walmart bread shelves are finally coming back- but still can’t get wonderbread anywhere- At one point- the shelves only had “Gluten Free” bread on the shelves because noone likes it i guess-

There wasn’t even any flour so we could make our own bread lol

[Lizavetta]

"I had no idea Staples carried eggs."

You should check out Staple's produce section sometime.

The deli counter is usually pretty busy, though.