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Six months after India introduced a set of export restrictions on rice with the aim of holding down domestic prices, global rice markets continue to feel the impact.

In the face of escalating conflicts, economic slowdowns and downturns, and the growing climate crisis, the Agricultural Market Information System (AMIS) plays a crucial role in enhancing transparency and policy coordination in international food markets, Maximo Torero, Chief Economist of the Food and Agriculture Organization of the United Nations (FAO), has said.

Speaking at an expert panel at the Global Forum for Food and Agriculture (GFFA) 2024 in Berlin, he stressed how AMIS has helped to prevent unexpected price hikes and strengthen global food security.

The FAO Food Price Index continued its decline in January, driven mainly by falling cereal and meat prices. The January 2024 Index was 10.4 percent below its January 2023 level.

Despite the inconclusive outcome on the COP27 Sharm El-Sheikh Implementation Plan in Dubai, COP28 has nonetheless been hailed for putting a much needed and strong focus on food systems, which are simultaneously threatened by and contribute to climate change.

IFPRI participated in COP28 in late 2023 as part of a wider CGIAR delegation. Following on CGIAR’s five key takeaways from the global climate conference, this blog post—written by IFPRI Communications and Public Affairs Director Charlotte Hebebrand with input from IFPRI research units—reflects on the significance of the COP28 UAE Declaration on Sustainable Agriculture, Resilient Food Systems, and Climate Action through a policy lens.