The expected impact on the agricultural sector is due to the fact that COVID-19 is on the rock markets.

Thursday saw the largest drop in Canadian stocks in 80 years, and many economists have warned that the country is on the verge of a recession.

In addition to growing concerns about the economic impact of COVID-19, oil and gas reserves are still shocked by the ongoing feud between Russia and Saudi Arabia over production. The decision of US President Donald Trump to limit travel from Europe by 30 days to limit the spread of the virus, led to a further reduction in prices.

Richard Gray, a professor at the College of Agriculture and Bioresources at the University of Saskatchewan, said that grain is likely to be affected, as a decrease in fuel demand leads to a decrease in demand for biofuels.

“Since the stock market is in decline, is this the end of the agro-industrial complex? People still have to eat. Where the problem is, infection in the markets. ”, - he said.

Chief Agricultural Economist Farm Credit Canada J.P. Gervais repeated Gray's words, adding that oil is "Imperfect barometer" for the work of other goods.

“At the global level, oil is indeed linked to overall global activity,” - he said.

Gray warned farmers to manage their spending because there is no certainty about how long the recession will last.

• The Government of Canada will provide $ 2.15 billion to help farmers who are losing revenue through trade agreements with Europe and the Pacific to facilitate the entry of foreign egg, dairy, and poultry producers into the Canadian markets.
• This year, on the fields of the Chernihiv region, crops were sown on 999 thousand ha, which is more than last year, on 45 thousand ha. This was reported by the press service of the APR Chernihiv Regional State Administration.
• On November 27, a tractor convoy of farmers in Paris paralyzed traffic, adding fuel to the fire caused by the social unrest that faced the government of Emanuel Macron.