{"id":54690,"date":"2022-11-11T09:38:28","date_gmt":"2022-11-11T09:38:28","guid":{"rendered":"https:\/\/www.kumasionlinegh.com\/?p=54690"},"modified":"2022-11-11T09:38:36","modified_gmt":"2022-11-11T09:38:36","slug":"food-import-costs-rise-to-record-in-2022-threatening-worlds-poorest-fao","status":"publish","type":"post","link":"https:\/\/www.kumasionlinetv.com\/?p=54690","title":{"rendered":"<strong>Food Import Costs Rise To Record In 2022, Threatening World\u2019s Poorest \u2013 FAO<\/strong>"},"content":{"rendered":"\n<p>Food imports costs across the world are on course to hit a near $2 trillion record in 2022, piling pressure on the globe\u2019s poorest countries who likely shipped in considerably less volumes of food, the U.N. Food Agency said on Friday.<\/p>\n\n\n\n<p>World food prices soared to record levels in March after Russia invaded Ukraine, a key grains and oilseeds producer, and while they have since retreated somewhat, they remain above last year\u2019s lofty levels.<\/p>\n\n\n\n<p>The increase is disproportionately affecting economically vulnerable countries, and is expected to continue doing so next year even as the overall agricultural supply situation is set to improve a bit.<br>&nbsp;<br>\u201cThese are alarming signs from a food security perspective,\u201d the Food and Agriculture Organization (FAO) said its twice-yearly Food Outlook report.<\/p>\n\n\n\n<p>The world\u2019s food import bill is projected to reach $1.94 trillion this year, up 10% year-on-year and higher than previously expected, the FAO said.<\/p>\n\n\n\n<p>It noted that low income countries\u2019 food import volumes are seen shrinking 10% as their food import bill for the year remains almost unchanged, pointing to growing accessibility issues.<\/p>\n\n\n\n<p>\u201cImporters are finding it difficult to finance rising international costs, potentially heralding an end of their resilience to higher international prices,\u201d the FAO said.<\/p>\n\n\n\n<p>In terms of agricultural inputs like fertilisers, which require a lot of energy to produce, the FAO said global import costs are set to rise nearly 50% this year to $424 billion, forcing some countries to buy and use less.<\/p>\n\n\n\n<p>This will inevitably lead to lower productivity, lower domestic food availability and \u201cnegative repercussions for global agricultural output and food security\u201d in 2023, it said.<\/p>\n\n\n\n<p>Looking to the 2022\/23 season, the agency sees wheat production jumping 0.6% year-on-year to hit a record 784 million tonnes, but notes increases are expected mostly in China and Russia, leaving inventories down 8% in the rest of the world.<\/p>\n\n\n\n<p>Production of coarse grains like corn, barley and sorghum is meanwhile seen falling 2.8% in the season.<\/p>\n\n\n\n<p>On the plus side, however, the FAO said oilseeds output is seen rebounding 4.2% to hit an all time high, sugar output is seen rising 2.6%, while rice output is expected to remain at overall average levels thanks to resilient plantings in Asia and recovering output in Africa.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong><\/strong><\/h3>\n\n\n\n<p>Source: Reuters<\/p>\n\n\n\n<p><strong>SEND A STORY:<\/strong>\u00a0Do you have a story for us or need a promotion\/advertisement? Submit them via our email\u00a0<strong><a href=\"mailto:dannyboy744@gmail.com\">dannyboy744@gmail.com<\/a>\u00a0and via on +233 266777777<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Food imports costs across the world are on course to hit a near $2 trillion record in 2022, piling pressure on the globe\u2019s poorest countries who likely shipped in considerably less volumes of food, the U.N. Food Agency said on Friday. World food prices soared to record levels in March after Russia invaded Ukraine, a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":54691,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"iawp_total_views":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-54690","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Food Import Costs Rise To Record In 2022, Threatening World\u2019s Poorest \u2013 FAO - Kumasi Online TV<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.kumasionlinetv.com\/?p=54690\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Food Import Costs Rise To Record In 2022, Threatening World\u2019s Poorest \u2013 FAO - Kumasi Online TV\" \/>\n<meta property=\"og:description\" content=\"Food imports costs across the world are on course to hit a near $2 trillion record in 2022, piling pressure on the globe\u2019s poorest countries who likely shipped in considerably less volumes of food, the U.N. 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