Global food import bill to reach record high in 2021

Global food trade has accelerated and is poised to hit a record in both volume and value terms, a report released by the Food and Agriculture Organisation of the United Nations says.
food import

According to the FAO’s Food Outlook report published Thursday, “Higher international prices and freight rates combine to propel the cost of importing food to USD 1.75 trillion in 2021.”

The food outlook offers reviews of market supply and demand trends for the world’s most traded food commodities, namely, cereals, oil crops, meat, dairy, fish and sugar.

It also looks at trends in futures markets and shipping costs for food commodities.

Source- Premium times