Global Food Imports May Be Record $1.29 Trillion, FAO Says

Global food imports may rise 21 percent to a record $1.29 trillion this year, with “poorer” countries spending up to 30 percent more than last year, the Food and Agriculture Organization of the United Nations said.

Costs of grain-based commodities and vegetable oils may account for 40 percent of the increase, the FAO said in a report on its website today. Livestock bills may rise an average 17 percent, sugar and beverages by 26 percent and vegetables and fruits by 13 percent, it said.