What's New

First in a series of posts examining key issues involving climate and food systems—here, climate finance—as the 2023 UN Climate Change Conference (COP28) in Dubai approaches (November 30-December 12).

Since early 2020, Guatemala has faced a multitude of food security shocks: from the outbreak of the COVID-19 pandemic and resulting restrictions on movement and disruptions to agricultural trade to widespread flooding following several major tropical storms to skyrocketing staple food prices. A new article in World Development examines the immediate and longer term impact of these shocks on households’ incomes, diets, food security, and migration decisions, particularly in rural areas.

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.

On July 20, India banned exports of non-basmati price (covered in our blog post of July 25)—aiming to cool rising domestic prices—a move many feared would drive rising global prices higher. Since then, that trend has continued: The benchmark Thai rice price has risen 14%, Viet Nam rice prices are up 22%, and India white rice prices are up 12% (Figure 1). In August, in an effort to prevent exporters from undermining the ban, India put a surcharge of 20% on exports of parboiled rice and instituted a minimum sales price for basmati rice.

Figure 1

The Global Report on Food Crises (GRFC) 2023 Midyear Update finds that while some countries have seen improvements in hunger and malnutrition in the first half of 2023, high levels of acute food insecurity remain worldwide. As in previous years, conflict, climate change, and economic shocks continue to be the main drivers of food crisis, with conflict playing the predominant role from January through August 2023.