The FAO warned on Thursday that food imports from the world’s poorest countries are set to fall due to the continuing high price of certain commodities, even though global production of maize, milk, and meat is set to increase in 2023.
In its bi-annual “Food Outlook” report, the United Nations Food and Agriculture Organisation (FAO) warned that the food bill of the 47 least developed countries, mainly in Africa, should fall by 1.5% this year.
The organization announced that this drop could reach almost 5% in developing countries that are net importers of food products, such as Tunisia, Egypt, and Pakistan. This drop in food import volumes in these two groups is “a worrying development”, according to the FAO.
Although oil and cereal prices have come down since peaking in March 2022, after the invasion of Ukraine, they remain high today. And the prices of fruit, vegetables, and dairy products continue to rise, “which is holding back demand”, particularly in vulnerable countries.
“These concerns are amplified by the fact that the fall in international prices for several basic food products has not been translated into a fall in prices at the national retail level”, stresses the Food and Agriculture Organization.
On a global scale, spending on food imports is set to hit a new record in 2023. Following a jump of 18% in 2021 and 11% in 2022, the bill is set to increase by 1.5% to reach 1,980 billion dollars.