Bisnis Asia

How coronavirus is beefing up the food and agriculture industry and businesses should be doing about it

04 May 2020 | By bisnisasia

COVID-19 has caused huge changes to sweep across food and agriculture. Domestic demand is booming in some sectors but dwindling in others — but transportation costs have also increased.

CEO at the Australian Fresh Produce Alliance Michael Rogers has noticed an alarming trend — businesses are reluctant to restructure. 

“When restrictions start to ease it won’t go back to the way it was,” Mr Rogers said. “It’s a different economic environment and fresh food businesses can help themselves by planning for that now.”

The reality is food and agriculture will not be able to pick up where it left off, even if the government lightens restrictions. 

 We are seeing remarkable changes such as: weak demand for wine and avocados, a decline in hospitality, and a surge in demand for basic food supplies such as rice and pasta. . 

 But the demand driven by panic-buying will become balanced by a reduction in future purchases. 

 Businesses need to acknowledge that now, and adjust their logistics fast. For producers who are selling in the hospitality sector or for small product lines, they need to prepare for volatility.

 Mr Rogers said “It’s an opportunity to review your entire operation and think about how to align your business to new patterns of supply and demand.” 

 He advised businesses to develop a continuity plan and communicate regularly with business partners. 

 This is a time to be proactive and think ahead before businesses collapse.

 In our webinar on Friday 8th May, Michael Rogers and Director at Export Council of Australia Andrew Hudson will cover the impact COVID-19 is expected to have over the coming months, and what businesses should be doing.

It will also be an opportunity to ask questions and get advice from inside your home. Join here: https://bisnisasia.webinarninja.com/live-webinars/306190/register

 It’s a different economic environment and fresh food businesses can help themselves by planning for that now.”

When: Friday 8th May at 11am

Where: Online webinar, free to join with a recording accessible if you can’t make it