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Record Global Food Import Bill Near $2 Trillion Hurting Poorest

  • Import costs to grow despite some staples dropping in price
  • Food import volumes by vulnerable countries to shrink 10%
Vegetable oil for sale in a supermarket.
Vegetable oil for sale in a supermarket.Photographer: Angel Garcia/Bloomberg

Importing nations face ballooning costs for staples from grains to vegetable oils, signaling that food insecurity is worsening. 

The global food import bill is set to climb to a record $1.94 trillion in 2022, some $128.6 billion more than predicted in June, as production costs soar and supply chains are disrupted, according to the United Nations’ Food and Agriculture Organization. Many economically vulnerable countries are paying more while receiving less food, the Rome-based agency warned in a report Friday.