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World’s Record Food Bill Is Hitting Poorer Countries Hardest

  • Cost of importing food to rise 14% to $1.75 trillion this year
  • Developing countries see biggest jump in import costs, UN says
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Cargill CEO Believes High Food Prices Are ‘Transitory’

The world’s food-import bill is set to jump even more than expected to a record this year, increasing the threat of hunger, especially in the poorest nations.

Higher shipping rates and prices of foodstuffs from grains to vegetables are likely to drive the cost of importing food up by 14% to $1.75 trillion, the United Nations said. It also warned of higher bills as farm inputs get more expensive.