24 Hrs
Source:
وكالة الأنباء القطرية
FAO cautions on possible food price rise
The United Nations Food and Agriculture Organization (FAO) warns of a new wave of rising food prices due to the repercussions of the war in Ukraine, the conflict in Iran, the El Niño phenomenon, and climate change. Projections indicate that increases in costs and declining crop yields will become more evident toward the end of this year, with further increases expected in 2024. The closure of the Strait of Hormuz impacts supply chains for agricultural and energy commodities, while damage to Ukraine's oil infrastructure has reduced the export market for fuel used in agricultural production. The strong El Niño phenomenon is expected to cause changes in rainfall patterns, increasing the likelihood of rising raw material prices and severe food security crises, alongside ongoing influences from other factors such as soaring oil prices, shortages of fertilizers and diesel, and their effects on production costs and consumer prices.
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