Agricultural Inputs

As the world grapples with the increasing impacts of climate change, global policymakers need to take much stronger action to reduce the emission of greenhouse gases (GHG). This is the message from the recent UN Environment Programme’s Emissions Gap Report 2022. The report provides the stark conclusion that current national climate change pledges can only limit global warming rises by 2.4-2.6°C by the end of the century – far from the 1.5°C goal set forth by the Paris Agreement. To stand a chance of reaching that ambitious goal, global GHG emissions need to be cut by 45 percent by 2030.

The FAO Food Price Index held steady in November and was only 0.3 percent above its November 2021 level. Rising vegetable oil prices were checked by declines in cereal prices.

The latest Food and Agriculture Organization of the United Nations (FAO) Food Outlook, released on November 11, 2022, sees continued challenges for global food security due to high energy and fertilizer costs, climate change, trade restrictions, economic downturns, and continuing conflicts around the world.

The October FAO Food Price Index remained largely unchanged from September, with rising cereal prices balanced by declines in the other commodity groups. The overall Food Price Index has fallen by almost 15 percent from March 2022 but remains 2 percent above its October 2021 levels.

The latest FAO Food Price Index reports that global food prices fell by 1.5 percent in September. However, the Index remains 5.5 higher than its September 2021 level. The decline from August was driven by significant drops in vegetable oil prices and more moderate drops in sugar, meat, and dairy products; cereal prices rose in September.