Abstract
AbstractThis paper examines the impact of COVID‐19 on fruits and vegetable prices in the United States and China in a difference‐in‐differences framework. Our main results show differing impacts of the pandemic on the U.S. and Chinese wholesale prices. We conclude that despite the unprecedented disruptions, the U.S. produce industry remained intact. However, the long‐run effects could be mixed. We conjecture that the industry would stay resilient in the long run by having gained practical know‐how. Nevertheless, potential structural changes, such as changing household expenditure patterns due to income loss and increasing concentration in the food service market, could hurt the industry.
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