World food import bill to reach record high in 2021: FAO

Nov 13, 2021 AlShorts Web Desk

Global food trade is expected to hit an all-time high, a Food and Agriculture Organization (FAO) report said. The global food import bill should extend beyond USD1.75 trillion, marking a 14% increase from the previous year and 12% higher than the previous forecast, the report added. The increase is driven by higher price levels of internationally traded food commodities and a threefold increase in freight costs.