# COVID-19 hoarding triggers record surge in retail sales, but a payback is coming - ABC News

> 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.

- Date: 2020-04-22 · published 2020-04-22T12:00:00.000Z
- Category: market · region Australia · magnitude low
- Page: https://feedsoft.ai/events/11114-covid-19-hoarding-triggers-record-surge-in-retail-sales-but-a-payback-is-coming
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

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.

## Sources

- abc.net.au: https://www.abc.net.au/news/2020-04-22/retail-sales-surge-in-march-toilet-paper-rise-pasta-sales-double/12172606

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.