Glacier FarmMedia COVID-19 & the Farm

Global Markets: Japan declares state of emergency

By MarketsFarm

WINNIPEG, April 7 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Japan has declared a state of emergency over COVID-19 and has announced nearly US$1 trillion worth of stimulus measures. The state of emergency is set to last for a month. It encompasses Tokyo and six other prefectures, which accounts for nearly half of the country’s population.

– 3M has reached an agreement with Donald Trump’s administration that will allow the company to continue shipping N95 masks to Canada and other customers. Trump had threatened to halt exports of the protective gear – necessary in the fight against COVID-19 – in order to hoard supplies for the United States.

– Dairy farmers in Ontario are being told to dump some of their excess milk, as COVID-19 social distancing measures have cut into demand for milk and other dairy products. The Dairy Farmers of Ontario sets production quotas in the province began ordering farmers to get rid of surplus milk last week, according to a report from the CBC. While restaurants, schools, and coffee shops have cut their demand for milk, the dairy shelves in many grocery stores have been sparse as consumers stock up. The Dairy Farmers of Ontario is requesting grocery stores stop limiting milk purchases in the hopes that the milk being dumped can move to the retail sector instead.

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