Food import costs globally are projected to reach $1.94 trillion this year and will affect some of the most economically vulnerable countries, according to the UN Food and Agriculture Organisation.
The new forecast represents an all-time high and a 10 per cent increase over 2021 levels, the UN body said in its Food Outlook report on Friday.
However, the pace of increase is expected to slow down as high food prices and depreciation of currencies weigh on the purchasing power of importers.
“Worryingly, many economically vulnerable countries are paying more while receiving less food,” said the FAO.
Food prices soared worldwide following Russia’s military offensive in Ukraine. Both together account for roughly a third of all wheat exports, in addition to other grains and related foodstuffs.
The FAO Food Price Index, a measure of the monthly change in international prices of a basket of food commodities, averaged 135.9 points in October, virtually unchanged from September, with the price indices of all the covered commodity groups, except cereals, down month-on-month.
Existing differences across importing regions are likely to become more “pronounced” in 2022, said the FAO.
“While high-income countries continue purchasing across the entire spectrum of food products, the expenditures of developing regions will be increasingly concentrated on importing staple foods,” it added.
Meanwhile, the cost to import agricultural inputs will surge by nearly 50 per cent this year.
The global input import bill is expected to rise to $424 billion in 2022, up 48 per cent from the year before and as much as 112 per cent from 2020, said the FAO.
The UN body blamed higher fertiliser and energy costs for the rise in raw material prices.
“These two inputs accounted for well over 75 per cent of the overall world bill in the past and are likely to reach a new record of 86 per cent in 2022."
Production of nitrogen fertiliser products in the EU has been curtailed due to a steep drop in Russian natural gas imports.
Earlier this month, CF Industries Holdings, the world’s largest nitrogen fertiliser producer, reported a third-quarter profit, compared with a loss a year ago.
“The conditions that have supported nitrogen prices for the past year … show no signs of abating,” CF Industries Holdings chief executive Tony Will said.
“As a result, we expect the global nitrogen supply-demand balance to remain tight, with attractive margin opportunities for low-cost producers further into the future.”
Oil and gas prices have soared since the Russian invasion of Ukraine in February.
Brent crude, the benchmark under which two-thirds of the world's crude is traded, closed in on an all-time high of $147 a barrel in March and is now hovering at about $95 a barrel.
European natural gas prices have declined in recent weeks due to high storage levels and a warm winter.
However, analysts have raised concerns about the continent’s ability to meet its energy demand next year when Russian natural gas supplies are expected to come to a complete halt.
“With high and inelastic demand for natural gas and little prospects for abating supply shortages, high world fertiliser prices are likely to extend into 2023,” said the FAO.
This will have “negative repercussions for global agricultural output and food security”, it said.
The FAO sees global wheat production rising 0.6 per cent to a “record” 784 million tonnes in the 2022-2023 period.
The higher output will be driven by “significant” harvest recoveries in Canada and Russia, offsetting production declines foreseen in several countries, including Argentina, Australia, the EU and India, the UN body said.
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Leap of Faith
Michael J Mazarr
Public Affairs
Dh67
RESULTS
5pm Maiden (PA) Dh70,000 (Dirt) 1,400m
Winner AF Nashrah, Tadhg O’Shea (jockey), Ernst Oertel (trainer)
5.30pm Maiden (PA) Dh70,000 (D) 1,400m
Winner Mutaqadim, Riccardo Iacopini, Ibrahim Al Hadhrami.
6pm Maiden (PA) Dh70,000 (D) 1,600m
Winner Hameem, Jose Santiago, Abdallah Al Hammadi.
6.30pm Maiden (PA) Dh70,000 (D) 1,600m
Winner AF Almomayaz, Sandro Paiva, Ali Rashid Al Raihe.
7pm Handicap (PA) Dh70,000 (D) 1,800m
Winner Dalil Al Carrere, Fernando Jara, Mohamed Daggash.
7.30pm Handicap (TB) Dh70,000 (D) 1,000m
Winner Lahmoom, Royston Ffrench, Salem bin Ghadayer.
8pm Handicap (PA) Dh70,000 (D) 1,000m
Winner Jayide Al Boraq, Bernardo Pinheiro, Khalifa Al Neyadi.
Grand Slam Los Angeles results
Men:
56kg – Jorge Nakamura
62kg – Joao Gabriel de Sousa
69kg – Gianni Grippo
77kg – Caio Soares
85kg – Manuel Ribamar
94kg – Gustavo Batista
110kg – Erberth Santos
Women:
49kg – Mayssa Bastos
55kg – Nathalie Ribeiro
62kg – Gabrielle McComb
70kg – Thamara Silva
90kg – Gabrieli Pessanha
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
Juliot Vinolia’s checklist for adopting alternate-day fasting
- Don’t do it more than once in three days
- Don’t go under 700 calories on fasting days
- Ensure there is sufficient water intake, as the body can go in dehydration mode
- Ensure there is enough roughage (fibre) in the food on fasting days as well
- Do not binge on processed or fatty foods on non-fasting days
- Complement fasting with plant-based foods, fruits, vegetables, seafood. Cut out processed meats and processed carbohydrates
- Manage your sleep
- People with existing gastric or mental health issues should avoid fasting
- Do not fast for prolonged periods without supervision by a qualified expert
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
if you go
The flights
Fly to Rome with Etihad (www.etihad.ae) or Emirates (www.emirates.com) from Dh2,480 return including taxes. The flight takes six hours. Fly from Rome to Trapani with Ryanair (www.ryanair.com) from Dh420 return including taxes. The flight takes one hour 10 minutes.
The hotels
The author recommends the following hotels for this itinerary. In Trapani, Ai Lumi (www.ailumi.it); in Marsala, Viacolvento (www.viacolventomarsala.it); and in Marsala Del Vallo, the Meliaresort Dimore Storiche (www.meliaresort.it).
The Saga Continues
Wu-Tang Clan
(36 Chambers / Entertainment One)
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
FIGHT CARD
Bantamweight Hamza Bougamza (MAR) v Jalal Al Daaja (JOR)
Catchweight 67kg Mohamed El Mesbahi (MAR) v Fouad Mesdari (ALG)
Lighweight Abdullah Mohammed Ali (UAE) v Abdelhak Amhidra (MAR)
Catchweight 73kg Mostafa Ibrahim Radi (PAL) v Yazid Chouchane (ALG)
Middleweight Yousri Belgaroui (TUN) v Badreddine Diani (MAR)
Catchweight 78kg Rashed Dawood (UAE) v Adnan Bushashy (ALG)
Middleweight Sallaheddine Dekhissi (MAR) v Abdel Emam (EGY)
Catchweight 65kg Rachid Hazoume (MAR) v Yanis Ghemmouri (ALG)
Lighweight Mohammed Yahya (UAE) v Azouz Anwar (EGY)
Catchweight 79kg Omar Hussein (PAL) v Souhil Tahiri (ALG)
Middleweight Tarek Suleiman (SYR) v Laid Zerhouni (ALG)
Killing of Qassem Suleimani
Killing of Qassem Suleimani
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Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Essentials
The flights
Emirates flies direct from Dubai to Seattle from Dh6,755 return in economy and Dh24,775 in business class.
The cruise
UnCruise Adventures offers a variety of small-ship cruises in Alaska and around the world. A 14-day Alaska’s Inside Passage and San Juans Cruise from Seattle to Juneau or reverse costs from $4,695 (Dh17,246), including accommodation, food and most activities. Trips in 2019 start in April and run until September.
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