World food import bill to be at record high of $1.94 trillion in 2022: FAO

The world food import bill is estimated to rise to US$1.94 trillion in 2022, higher than previously expected, according to the latest Food Outlook forecast released by the FAO

The world food import bill is estimated to rise to $1.94 trillion in 2022, higher than previously expected, according to the latest Food Outlook forecast released by the Food and Agriculture Organization of the United Nations (FAO).

"The anticipated slowdown in growth in 2022 reflects higher world food prices and depreciating currencies against the United States dollar, all of which are expected to weigh on the purchasing power of importers and subsequently on the quantity of imported foods," the report said.

This "all-time high", can be attributed to the depreciating values of currencies against the US dollar and the ongoing