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Australian Bureau of Statistics data showed retail turnover rose 8.2% in March 2020, the largest monthly rise on record. Supermarket and grocery sales rose 22.4% as shoppers stockpiled during the COVID-19 pandemic.
Economists expect sales to fall as stockpiling subsides and retailers extend shutdowns.
The surge is a short-term demand spike at the retail level and has little direct effect on feed grain or livestock prices. The expected payback suggests that food demand will ease.
abc.net.auStephanie ChalmersApr 22, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
