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Reports of COVID-19 Motivate Fear-Buying

03/07/2020

According to reports by members of the Food Marketing Institute, shoppers are buying large quantities of canned and boxed foods, beans, coffee, bottled water, hand soap and paper towels.

 

This reaction by consumers is predictable and will probably decline in intensity, providing the incidence rate of COVID-19 does not materially increase. Unfortunately, with the deployment of PCR test kits, it is anticipated that a large number of mildly affected or asymptomatic cases in diverse areas will be diagnosed. The quicker that these cases can be identified and quarantined, the sooner the epidemic will be controlled.

 

It will be interesting to determine both the extent and duration in demand for eggs and egg products as a result of concern over COVID-19. Increased volume and hence price are based on the prediction that there will be a pronounced trend to eating at home, as consumers avoid restaurants and other public places.

 

There is naturally a limit to the volume of eggs purchased in response to "refrigeration stuffing"