meat processing facilities coming back online, import meat prices continued to rise in June 2020, advancing a further 8.1 percent as demand from Asia slowly increased with countries reopening. Export meat prices also rose, advancing 5.0 percent in May 2020 as less meat was available for export. 5 In turn, import meat prices rose 16.0 percent in May 2020, the largest 1-month jump since the index was first published monthly in December 1993. meat processing facilities led to a domestic meat shortage, causing a subsequent increase in demand for imports. 4 Export meat prices decreased 1.8 percent in February 2020, then edged up 0.3 percent in March and then declined 4.0 percent in April 2020.įrom mid-April 2020 onward, the effects of the pandemic began to accelerate in the United States. exports of meat products and meat packaging products fell 22.5 percent from March to May 2020. The reduction in world meat demand, especially from Asia, resulted in declining U.S. 3 Prices for import meat continued to decline overall because of weak Asian demand, falling 8.9 percent from January to April 2020, the largest 3-month drop in import prices since the final quarter of 2015. 2 In January 2020, China largely pulled out of the market for Australian beef because of the COVID-19 pandemic, putting more supply on the world market for that product. ![]() Chinese pork producers lost substantial production in the latter part of 2019 because an outbreak of African swine fever wiped out much of their pigs. Import meat prices declined 2.3 percent in January 2020, after seeing pork-driven increases of 2.6 percent and 3.1 percent in the previous 2 months. Demand for some key exports such as soybeans and other grains remained steady because these products are used for animal feed rather than household consumption however, there was a reduction in demand for other food products, especially meat. 1 The downward impact on food demand and export prices began in January and accelerated, as countries closed businesses and kept people home. While the United States declared a national emergency on March 13, the beginning of the pandemic dates back to the first reported case in China on November 17, 2019, which led to household lockdowns beginning there in mid-January 2020. Meat, fish, dairy, and eggs were especially affected by the shifting economy brought on by the pandemic. Price changes since the pandemicĭemand shocks and problems with supply chains contributed to increased volatility in import, export, producer, and consumer prices in the months following the onset of the COVID-19 pandemic in the United States. Finally, we take a look at the collection and response rates for the three surveys. Next, we move to the prices seen by producers and then to prices as consumers experienced them. We first take a look at the global market with import and export prices. This article describes both the price changes during the pandemic and the challenges and adjustments to data collection that the pandemic required. This change in collection particularly affected the Consumer Price Index (CPI). BLS price surveys were able to retain sufficient price quotes by shifting data collection techniques. Despite the reduction in collected price quotes, BLS successfully maintained the quality of the broad price indexes while excluding very few detailed price indexes from publication. ![]() At the same time, collecting price data became more difficult first, stores and businesses closed, and second, Bureau of Labor Statistics data (BLS) collectors stopped in-person data collection. In March 2020, the spread of coronavirus disease 2019 (COVID-19) and the actions taken in response to it drastically shifted food consumption from restaurants to homes as stay-at-home orders went into effect. ![]() Safety precautions established during the pandemic created data collection challenges for some price indexes more than others. In addition, the article assesses the pandemic’s impact on price data collection efforts. Bureau of Labor Statistics import/export price indexes, producer price indexes, and consumer price indexes. Article August 2020 The impact of the COVID-19 pandemic on food price indexes and data collection This article describes the impact the COVID-19 pandemic has had on price changes for food categories within the U.S.
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