The Food and Agriculture Organization forecasts that by the year's end, global spending on food imports will have increased by 10 percent from the previous year to reach "an all-time high" of US$1.94 trillion, due to currency depreciations and the war in Ukraine. "The bulk" of this increase in spending will be by high-income countries while food import "volumes are also expected to rise."
The Food and Agriculture Organization forecasts that global spending on food imports will reach "an all-time high" of US$1.94 trillion by the end of the year, a 10 percent increase from the previous year, as a result of rising food prices caused by currency depreciation and the Russian invasion of Ukraine.
The Food and Agriculture Organization forecasts that bytheyear'send,global spending on food imports will haveincreasedby10percentfromthepreviousyeartoreach"an all-time high" of US$1.94 trillion,due tocurrencydepreciationsandthe war inUkraine."Thebulk"ofthis increase inspendingwillbe byhigh-income countrieswhile food import"volumes are also expected to rise."