Indian rice traders have stopped signing new export contracts amid the nationwide lockdown to curb the spread of coronavirus, as labour shortages and logistics disruptions have hampered the delivery of even existing contracts, industry officials said.
An estimated 90% of world trade is facilitated by maritime shipping, and as trade volumes continue to increase, the world’s busiest ports continue to grow larger and more efficient to meet demand.
Cocoa production has been the backbone of Ghana’s economy since the 1870s. It dominates the agricultural sector and contributes about 30% of the country’s export earnings. Cocoa employs about 800,000 farmers directly.
No region of the world has ever moved to industrialised economy status without a transformation of the agricultural sector. Agriculture, which contributes 16.2% of the GDP of Africa, and gives some form of employment to over 60% of the population, holds the key to accelerated growth, diversification and job creation for African economies.
"The situation at the harbours is very, very bad at the moment and if it continues like this over 21 days we’re going to have a very big problem on our hands,” says Mitchell Brooke, logistics manager at the Citrus Growers’ Association, about the skeletal staffing at South Africa’s harbours that have reduced berthing by over two-thirds.
The $2 trillion stimulus package that Congress passed last week produced good news amid the storm of dismal reports about the impact COVID-19 has had on people and the economy.
