FSP and Related Tools

With the world already reeling from the high food prices and other economic impacts of the COVID-19 pandemic, the outbreak of conflict in Ukraine in February 2022 again raised the specter of a major global food security crisis. Since that time, analysis of the extant and potential future impacts of the conflict on food and fuel prices, trade, food security, and poverty has been a primary focus for policymakers, researchers, and development professionals around the world.

The Food Security Portal E-learning Platform has launched two new courses: “General Equilibrium Models – an Introduction” and “Advanced General Equilibrium Models.”

Led by IFPRI Senior Researcher Antoine Bouet, these courses will introduce participants to computable general equilibrium (CGE) modeling, a powerful tool for analyzing a wide range of food policy issues at both the country and the global level.

The FAO Food Price Index continued its nine-month decline in December 2022, falling by an additional 1.9 percent. The decline was driven mostly by falling vegetable oil, cereal, and meat prices. However, overall in 2022, the Index was over 14 percent higher than its 2021 level, reflecting continued high prices driven by conflict, climate, and market concerns.

Last week, the heads of the World Bank Group, International Monetary Fund, United Nations World Food Program, and World Trade Organization issued a joint statement calling for urgent global action on food security in response to skyrocketing global food prices.

As concerns over COVID-19's potential impacts on food prices and food security continue, accurate and timely data and information are more crucial than ever. On May 8, the Food Security Portal hosted a webinar on near-real-time monitoring of food crisis risk factors like the COVID-19 pandemic, food price volatility, climate-driven shocks, conflict, and economic downturns.