What's New

Over the past three decades, the world lost as much as $3.8 trillion in agricultural products as a result of disaster events, according to a new flagship report from the UN Food and Agriculture Organization. That equates to a loss of around 5 percent of global agricultural GDP per year and has serious implications for food security, agricultural livelihoods, and the sustainability of the global agrifood system.

In early 2022, Sudha Narayanan, Shahidur Rashid, and I (IFPRI), and Alex Winter-Nelson (University of Illinois) began pulling together a Special Issue for the journal Applied Economic Perspectives and Policy focused on COVID-19 in South Asia. Our goal was to distill forward-looking lessons for the developing world by drawing on similar and disparate country-level experiences. The issue is now available online and its 14 papers provide important lessons for future shocks.

Since early 2020, Guatemala has faced a multitude of food security shocks: from the outbreak of the COVID-19 pandemic and resulting restrictions on movement and disruptions to agricultural trade to widespread flooding following several major tropical storms to skyrocketing staple food prices. A new article in World Development examines the immediate and longer term impact of these shocks on households’ incomes, diets, food security, and migration decisions, particularly in rural areas.

Nearly US$ 4 trillion: That is the amount of global crop and livestock production the FAO estimates has been lost over the past three decades due to disaster events. According to the new report, “The impact of disasters on agriculture and food security,” this equates to an average loss of US$123 billion per year and as much as 5 percent of annual global agricultural GDP.

The world reached a stark milestone in 2022, with over a quarter of a billion people in 58 countries/territories experiencing acute food insecurity (defined as IPC Phase 3 (Crisis) or higher), according to the 2023 Global Report on Food Crises (GRFC).[1] This number represents the fourth consecutive year of increasing food insecurity rates and the highest level seen in the seven-year publication history of the report. An additional 253 million people in 41 countries/territories experienced lower levels of food insecurity (IPC Phase 2 (Stressed)).