Global agri-food industry faces fundamental challenges in the next decade, says international organization

The Organization for Economic Cooperation and Development (OECD) and the Food and Agriculture Organization of the United Nations (FAO) jointly released the "Agricultural Outlook 2022-2031" report on the 29th, pointing out that the global agricultural industry faces fundamental challenges in the next decade and needs to be implemented in a sustainable manner.

The report pointed out that multiple factors such as post-epidemic demand recovery, bad weather in major suppliers, and rising production and transportation costs have driven up agricultural prices, and the situation has been further exacerbated by rising uncertainty about agricultural exports from Ukraine and Russia, major suppliers of grains

FAO Director-General Qu Dongyu said higher prices for food, fertilizers and fuel, as well as tighter financial conditions, were making life difficult for more people

The report predicts that over the next decade, global food consumption will increase by 1.

Increased investment in technology, infrastructure and training to boost productivity is a key driver of agricultural growth, the report said

The report highlights that global trade in major agricultural and processed products will grow in tandem with production over the next decade, and ensuring that global trade markets function well is critical to addressing short- and medium-term challenges to food security