Rwanda: 2020 Was Not a Kind Year for Many Farmers, Consumers

Published Dec 31, 2020

Tridge summary

The year 2020 is almost gone, but it will be remembered as a year when a lot changed. The outbreak of the Covid-19 pandemic has taken a toll on the economy, diminished people's livelihoods and claimed lives. From the consumption and production perspective, the virus disrupted supply chains - fuelling a steep rise in some commodity prices.

Original content

Lockdown triggers panic buying Covid-19, the most widespread pandemic in the word in the last 100 years, prompted the government to implement a lockdown, which triggered panic buying. Panic buying occurs when consumers purchase unusually large amounts of a product in anticipation of, or after, a disaster or perceived disaster, or in anticipation of a large price increase or product shortage. In Rwanda, the situation was prompted by the shopping frenzy among Rwandans after the government imposed a countrywide lockdown on March 21, 2020, in an effort to curb the spread of Covid-19. In an effort to reign in consumers, the Ministry of Trade and Industry set a limit on the quantities of food that a buyer should not exceed. This helped to prevent people from accumulating large stocks of food. The food rationing was implemented along with tariffs on different commodities in order to prevent traders from hiking prices. For instance, a 25-kilogramme-bag of Tanzanian rice which used to buy ...
Source: All Africa
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