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In its twice-a-year Food Outlook report on Thursday, FAO stated that global food import costs (including transportation costs) are expected to reach US$1.
715 trillion this year, higher than the US$1.
53 trillion in 2020
.
715 trillion this year, higher than the US$1.
53 trillion in 2020
.
The FAO stated that the increase in agricultural trade during the epidemic indicates that food consumption is inelastic and that the international market remains resilient in the face of the epidemic
.
However, since the end of 2020, food prices have continued to rise, causing poor countries that rely on food imports to face greater risks
.
.
However, since the end of 2020, food prices have continued to rise, causing poor countries that rely on food imports to face greater risks
.
The FAO Food Price Index in May 2021 hit a 10-year high, reflecting the sharp increase in the prices of cereals, vegetable oils and sugar
.
In addition, another food import value index, including freight, hit a record high in March this year, surpassing the level during the period of food price spikes from 2006 to 2008 and 2010 to 2012
.
.
In addition, another food import value index, including freight, hit a record high in March this year, surpassing the level during the period of food price spikes from 2006 to 2008 and 2010 to 2012
.
Imports of major foodstuffs will increase sharply in 2020, which will increase global import costs by 3%, a record high
.
However, the increasing imports of products do not include beverages and fishery products, because the demand for these products is more sensitive to economic conditions, and supply chain issues have also caused demand to be contained
.
.
However, the increasing imports of products do not include beverages and fishery products, because the demand for these products is more sensitive to economic conditions, and supply chain issues have also caused demand to be contained
.
FAO predicts that China's corn imports will increase to 24 million tons in 2021/22, maintaining its position as the world's largest corn importer
.
China’s corn imports in 2020/21 are expected to be 22 million tons, quadrupling the previous year
.
.
China’s corn imports in 2020/21 are expected to be 22 million tons, quadrupling the previous year
.
The FAO said that the recovery of pork production in China will lead to a decline in global pork trade, offsetting the increase in beef and poultry trade, and keeping the overall meat trade stable this year
.
.
