What's New

In 2023, the FAO Food Price Index stood nearly 14 percent below its 2022 value, according to the report’s January edition. The December Index also declined month-on-month from November, falling 1.5 percent due to declining sugar, vegetable oil, and meat prices.

Achieving efficient and effective fertilizer usage in agricultural production is a critically important economic and environmental policy objective for countries at all stages of economic development, although the nature of the policy problem may vary radically in different contexts.

South Asia and Africa south of the Sahara face significant and burgeoning threats to food security and economic well-being as a result of climate change. These challenges are further complicated by rapid population growth in both regions, leading to both an increased demand for food and increased environmental strains and the potential for unsustainable agricultural practices to boost production. Climate-smart agriculture (CSA) may be a feasible a solution to these challenges, if implemented appropriately and with local contexts in mind.

Nearly US$ 4 trillion: That is the amount of global crop and livestock production the FAO estimates has been lost over the past three decades due to disaster events. According to the new report, “The impact of disasters on agriculture and food security,” this equates to an average loss of US$123 billion per year and as much as 5 percent of annual global agricultural GDP.

The FAO Food Price Index fell by around 2 percent in August, driven by declines in cereal, vegetable oil, dairy, and meat indices. This decline placed the Index 24 percent below the peak seen in March 2022. The major exception was rice prices, which saw a significant increase in August.