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Coronavirus May Cost Africa $4.8 Billion in Agriculture Exports

Coronavirus May Cost Africa $4.8 Billion

Field Notes, powered by KPMG, is a weekly news update on news nationally and globally from the agri-food sector.

Ian Proudfoot

Global Head of Agribusiness, Partner - Audit

KPMG in New Zealand


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[09 June, Antony Squazzin, Bloomberg]

McKinsey & Co report that the Covid-19 pandemic has the potential to cost Africa as much as US$4.8 billion (approx. NZ$7.3 billion) in lost agricultural exports, and also affect the livelihoods of 10 million farmers. The consultancy firm report that disruptions to the sector include cancelled flights, closure of chocolate factories and lower demand for certain products. The outbreak may also disrupt preparations for the next planting season and hamper efforts to stop the invasion of crop-eating locusts in East Africa.

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