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  • Publication | 2022

World Bank - Food Security Update - 27/10/2022

Global Food and Nutrition Security

Highlights:

  • Food commodity prices declined in the third quarter of 2022 from their all-time highs in April. Grain supplies will be lower this season, however, due to a projected decline in maize supplies because of weather-related decreases in yields in the United States and European Union.

  • Fertilizer prices fell in the third quarter of 2022 but remain at historically high levels. However, several factors pose upside price risks.

  • By increasing the availability of grain, the Black Sea Grain Initiative (BSGI) has helped reduce food prices since April 2022. However, there are concerns about the threat of further disruptions to Black Sea trade if the BSGI is not renewed.

  • Climate change has added another dimension to the pressure on agricultural production and prices, with rising temperatures prompting shocks such as droughts, floods, and pest and disease outbreaks