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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Food import costs will rise to record levels in 2022

    Rocky
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    Food import costs will rise to record levels in 2022 Empty Food import costs will rise to record levels in 2022

    Post by Rocky Fri 11 Nov 2022, 7:48 am

    Food import costs will rise to record levels in 2022
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    Follow / Al-Mawred News
    The costs of food imports worldwide are set to reach nearly $2 trillion in 2022, the UN Food and Agriculture Organization (FAO) said on Friday, adding to pressure on poorer countries that are likely to have shipped far less food.

    Food prices rose to record levels in March after Russia's war against Ukraine, a major producer of grains and oilseeds, and although they have fallen somewhat since then, they are still well above the highs reached last year.

    This increase disproportionately affects the economically fragile states, and is expected to continue into the next year although the overall agricultural supply situation is expected to improve slightly.

    "These are worrying indicators from a food security perspective," FAO said in its Food Outlook, issued twice a year.

    The FAO noted that the global food import bill is expected to reach $1.94 trillion this year, up 10 percent year on year and higher than previously expected.

    And it announced that the volumes of food imports in low-income countries shrank by 10 percent, with the food bill remaining almost unchanged this year, which indicates the growing problems of access to food.

    "Importers are finding it difficult to finance rising global costs, which may signal the end of their resilience in the face of rising global prices," FAO said.

    For agricultural production inputs such as fertilizers, which need a lot of energy to produce, FAO said global import costs are set to increase by about 50 percent this year to $424 billion, forcing some countries to buy and use less fertilizer.

    This will eventually lead to lower productivity, less food available locally, and "negative implications for global agricultural production and food security" in 2023, FAO added.

    As for the 2022-2023 outlook, the organization sees wheat production jumping 0.6 percent year on year to reach a record level of 784 million tons, but noting that the expected increases will be largely in China and Russia, which means a decrease in stocks in the rest of the world by eight percent .

    But on the positive side, FAO considered that the production of oilseeds is expected to increase by 4.2 percent to reach an all-time high. Sugar production is expected to increase by 2.6 percent. Meanwhile, rice production is expected to remain unchanged thanks to the resilience of agriculture in Asia and the recovery in production in Africa.
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