ROME (AP) — Food import bills will reach a record high this year and food markets are likely to tighten around the world, according to a glum new forecast by a U.N. food agency.
The Food Outlook, issued twice a year by the Food and Agriculture Organization, also found that “many vulnerable countries are paying more but receiving less food” in imports.
The report issued Thursday by the Rome-based agency noted that developing countries are reducing imports of cereals, oilseeds and meats, reflecting their inability to cover the price increases.
The forecast cited “soaring input prices, concerns about the weather, and increased market uncertainties stemming from the war in Ukraine,’’ which has seen millions of tons of grain stuck in silos and unable to be shipped abroad from that major agricultural exporter due to the Russian invasion.