Food and energy security have always been important for China, but the pandemic has underscored these concerns.
The world's second largest economy, which has limited arable land, is facing pressure to shore up its food supplies as prices for food started ticking higher last year, prior to the virus outbreak.
Those blockages have highlighted the vulnerability of global supply chains, and fears of food shortages have come to the forefront of countries, both in developed and emerging economies. "People there are panicked that coronavirus will eventually shut down the world's ports, making it impossible for them to import," said Arlan Suderman, chief commodities economist for INTL FCStone in a tweet on Monday. "As such, they are hoarding supplies now while they are cheap and available."
As for rice, China is the world's largest producer of the staple grain with most of its supplies being consumed domestically.
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