China, the pandemic’s first epicentre is home to the largest number of coronavirus casesi.e. 82,830, and deaths, 4633, in 2020 to date. The very fact that China is amongst the largest markets for food & beverage business for many countries places the global food industry in a vulnerable situation.
The differential impact of this rapid spreading COVID-19 on Global food & beverage industry &each stage of its value chain can be calibrated on the lines of the affected workforce at industrial level, staple food supply (agricultural produce, food ingredients, intermediate food products), trade & logistics, demand-supply volatility and variable consumer demand at foodservice outlets— among other factors. Production, distribution, and inventory levels across the food & beverage industry spectrum are expected to be impacted largely with this corona crisis.
Labour &Workforce
In the wake of COVID-19, workforce can potentially influence the business plans and restrain the industrial production of food & beverage products. Beyond having exceptional forecasting tools, agile distribution capacity, and a reliable transportation infrastructure; the foremost critical element in timely order fulfilment is keeping reliable and skilled labor for efficient production and shipping. The workforce employed in agricultural farms, food & beverage production & processing plants, and distribution network are anticipated to run the risk of transmission which might occur during various activities of co-ordination.
For the trade occurring between geographies and different stages of the supply chain, there is also a potential risk of spreading the virus through mediums of product outputs, causing food safety concerns, this in turn has spiked the labour shortage.
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