Food Outlook - Biannual Report on Global Food Markets: June 2022

The FAO's latest forecasts predict a tightening of food markets in 2022 due to soaring input prices, concerns about the weather, and increased market uncertainties stemming from the war in Ukraine. The global food import bill is on course to hit a new record high of USD 1.8 trillion, largely due to higher prices. Food Outlook, published twice a year, provides reviews of market supply and demand trends for major foodstuffs, as well as trends in futures markets and shipping costs. It also contains two special chapters examining the role of rising prices for agricultural inputs and the risks the war in Ukraine poses for global food commodity markets.

Format: Paperback / softback
Length: 174 pages
Publication date: 30 August 2022
Publisher: Food & Agriculture Organization of the United Nations (FAO)

In the face of soaring input prices, growing concerns about weather patterns, and heightened market uncertainties stemming from the ongoing war in Ukraine, the latest forecasts from the Food and Agriculture Organization (FAO) suggest a likely tightening of food markets in 2022. Moreover, the global food import bill is projected to reach a staggering new record high of USD 1.8 trillion, an unprecedented figure driven primarily by the soaring prices of food commodities. This bi-annual publication, known as Food Outlook, serves as a comprehensive review of market supply and demand trends for the world's major foodstuffs, encompassing cereals, oil crops, sugar, meat, dairy products, and fish. It also delves into trends in futures markets and shipping costs for these essential food commodities.

In this latest edition, the report includes two special chapters that shed light on the significant impact of rising prices for agricultural inputs, such as fuel and fertilizers, and the risks posed by the war in Ukraine to global food commodity markets. These chapters provide valuable insights into the challenges and opportunities facing the agricultural sector in the coming years.

Published by the Markets and Trade Division of FAO as part of the Global Information and Early Warning System (GIEWS), Food Outlook maintains a close synergy with another key GIEWS publication, Crop Prospects, and Food Situation, particularly in terms of its coverage of cereals. The report is available in English, with the summary section also accessible in Arabic, Chinese, French, Russian, and Spanish to cater to a broader audience.

Food Outlook serves as a vital tool for policymakers, industry professionals, and stakeholders in understanding the dynamics of the global food market and making informed decisions to ensure food security and stability. By providing comprehensive analysis and timely insights, it helps mitigate the risks associated with market volatility and supports the development of resilient and sustainable food systems.

Dimension: 297 x 210 (mm)
ISBN-13: 9789251360286