Trade

The unfolding crisis in Ukraine has roiled commodity markets and threatens global food security. Ongoing fallout from the COVID-19 pandemic and other factors have already driven up food prices. Poor harvests in South America, strong global demand, and supply chain issues have reduced grain and oilseed inventories and driven prices to their highest levels since 2011-2013.

Scientists from the Alliance of Bioversity International and CIAT, led by Vanya Slavchevska, undertook a rapid study to gather evidence on the initial impacts of COVID-19 on cassava smallholders in Cambodia and Vietnam. 
The research evaluates how smallholders coped with the economic consequences of COVID-19 in the short term, and whether livelihood diversification strategies mediated or exacerbated the impacts of the crisis.

The COVID-19 pandemic context

In December 2021, the FAO Food Price Index fell by 0.9 percent from the previous month, with vegetable oils and sugar prices both seeing significant declines. However, in 2021 overall, the Index reached a 10-year high and was up by 28.1 percent above 2020 levels.

The COVID-19 pandemic has disrupted trade of food and farm products, and the agricultural sector is under immense pressure to overcome trade barriers while also responding to climate change. With ongoing tensions between major economies and with current structural impacts in trade and food security, the upcoming (and now twice-postponed due to the pandemic) 12th WTO Ministerial Conference is necessary to provide an opportunity to address and reform agricultural domestic support and to update the global trade book.

The FAO Food Price Index continued to rise in November, up 1.2 percent from the previous month and 27.3 percent from November 2020. This increase, driven mostly by rising cereal and dairy prices, brought the Index to its highest level since June 2011.