World food import bill to reach record high in 2021
(United Nations News) The global food trade should hit an all-time record high in both volume and value terms, according to a new report released on Thursday by the UN Food and Agriculture Organization (FAO).
By the end of 2021, the global food import bill should extend beyond $1.75 trillion, marking a 14 per cent increase from the previous year, and 12 per cent higher than the previous forecast.
According to FAO’s new Food Outlook, trade in foodstuffs has shown “remarkable resilience” to disruptions throughout the pandemic, but rapidly rising prices, pose significant challenges for poorer countries and consumers.
Source: CARICOM TODAY