The meat and poultry shelves at grocers are running empty from Australia to Italy and the U.S. But Cargill Inc., the world’s largest agricultural commodity trader, says look to China for hope of a brighter future.
Frenzied buying has taken hold in many parts of the world where people are being asked to stay home to stop the spread of the coronavirus. Consumers are loading up on meat supplies to fill their freezers. But demand from restaurants is poised to drop as dining rooms are closed under lockdown orders.
China saw the same issues, just months ahead of the rest the world. After a supermarket rush that left empty shelves, and then a decline in meat consumption from the restaurant industry, life in the Asian country is starting to return to normal, and so is meat demand, said Brian Sikes, head of Cargill’s protein and salt businesses.
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