The Food and Agriculture Organization of the United Nations said it expects food import costs to reach a record high this year, increasing by 12 per cent globally.

The cost of world food imports is expected to reach a record high in 2021, with stronger demand and an increase in commodity prices during the Corona Virus crisis. The Food Outlook Report, published twice a year by the Food and Agriculture Organization of the United Nations (FAO), said that it expected the cost of world food imports, which includes shipping fees, to reach $1.71 trillion this year. This figure was announced as 1.530 trillion dollars in 2020.

According to the FAO report, the growth in the trade of agricultural products during the pandemic demonstrated that food consumption was not flexible and international markets remained stable. However, the ongoing price increases since the end of 2020 pose a risk to less-developed import-dependent countries. World food prices went up every month since May including the 12th month, reaching their highest level since September 2011.