Photographer: Dhiraj SIngh/Bloomberg

World's Food-Import Bill Just Shrank $9 Billion to Five-Year Low

  • United Nation's FAO cut import-cost figure to $1.076 trillion
  • Oil rout undercuts freight rates, making food cheaper to buy

The world’s food bill just fell $9 billion from a previous estimate as a glut of oil and ships cut transportation costs, adding to an oversupply of everything from grains to sugar, according to the United Nations.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.