BY GRACE AIRHULE
Countries of the world will spend more importing food in 2022 but the additional spending will not buy them more food, the Food and Agricultural Organization of the United Nations (FAO) said in its latest food outlook report released Thursday.
The UN agency said global food import bill is on course to hit a new high of $1.81 trillion in 2022, an additional $51 billion, or nearly 3 percent, higher than the all-time high set last year.
The expected increase will be driven mainly by higher prices and transport costs rather than volumes, FAO said. This means that though…
Source: BusinessAM
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