What's New

According to the most recent World Agricultural Supply and Demand Estimates (WASDE) Report , global wheat supplies for 2017-2018 are up significantly due to an 8.6-million-ton production increase in the Former Soviet Union (FSU). Russian wheat production surpassed last year’s record by 5.0 million tons. Even though there are reduced production forecasts in Canada, EU, and U.S. the increased production from FSU more than offsets these conditions; as a result, foreign trade has increased from the FSU as well.

The latest Food Price Monitoring and Analysis (FPMA) Bulletin from FAO cites higher global wheat export prices in July, up 6 percent from June and 28 percent from July 2016. Continued hot, dry weather raised concerns about availability, particularly of high-quality wheat; the European Union and the Black Sea region also saw harvest delays, further pushing up prices.

At a time when weather patterns are becoming less predictable and population pressures on food supply are increasing, a group of crop scientists are laying the groundwork for an international crop network to systematically tackle threats to global food security.

The most recent edition of the FAO Food Price Index rose to 179.1 points in July, up 3.9 points from June and 10.2 percent above July 2016 levels. This marks the third month of consecutive increase. Supply constraints and currency movements supported to cereal, sugar, and dairy prices. Meat values remained steady in July, while vegetable oil prices fell.

Food crisis and famines continue to plague many developing countries. Armed conflict and prolonged drought have left around 20 million people at a risk of starvation and death in Somalia, South Sudan, Yemen, and Nigeria, while several other African nations also currently face with food insecurity, largely as a result of climate-driven weather events. An estimated $4.4 billion in aid is needed to address these crises.