Blog » Results of the AgriFin Survey on Covid-19

Results of the AgriFin Survey on Covid-19

Created Jun 12 2020, 3:35 PM by Fotios Stravoravdis

The survey received 82 responses globally; 40% of which came from financial institutions, 30% from international organizations, and the rest from regulators, government agencies and consulting companies. Here are some major observations:

  • About 60% of the respondents expect that the food crop production will decrease. On the other hand, 40% of the respondents in Africa and South Asia think that the food crop production will increase or significantly increase.
  • Over 90% think that food prices will increase; 30% of these expect that such price increases will be significant. More than 55% of the African respondents also expect a significant price increase. On the other hand, over 40% of the respondents from East and South East Asia & Pacific think that the price will decrease or there will be no change.   
  • More than 80% expect that access to finance by farmers and agribusiness SMEs will become more difficult. They also think that agriculture should be prioritized to receive financial assistance by governments over other sectors.
The respondents ranked lines of credit and credit guarantees ahead of other instruments to promote finance, followed closely by grants. Interest rate subsidies were considered to be the least important instrument to deal with the crisis.