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FAO expects further food prices to rise globally

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The UN World Food Program expects further food prices to rise amid Ukraine’s crisis and energy prices. This was announced on Monday by the Chief Food and Agriculture Organization of the United Nations (FAO), Maximo Torero.

“Unfortunately, global food prices are expected to rise. Factors driving global food prices include Ukraine’s war and sanctions, high fertilizer and energy prices, adverse weather conditions and the chain of consequences of the Covid pandemic, “he said in an interview with Turkish business newspaper Dünya. .

Torero noted that the FAO index reached a record high in March, mainly due to the crisis in Ukraine. “Prices for all commodities have risen. In particular, rising prices have affected vegetable oils and cereals,” said the representative of the World Food Program. According to him, a number of countries, fearing food shortages, have introduced export restrictions. “However, because of this, low-income countries and net food importers have found themselves in a difficult situation. FAO strongly opposes export restrictions, believing that this will only aggravate the situation,” he said. .

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According to Torero, a serious source of concern for the food organization is rising energy prices. “Many countries that are in a state of economic stagnation are facing serious debt and exchange rate crises. Rising energy prices will be accompanied by rising inflation,” he added.

The expert also said that the FAO is taking initiatives to combat high food prices and to support import-dependent countries to prevent a global food crisis.

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