The Food and Agriculture Organization of the United Nations (FAO) released the new edition of the United Nations Food Outlook Report on June 9. The document reveals that the expenses are increasing for the most vulnerable of the planet, while the quantity of food is decreasing. Supporting the food import bill is a good prospect.

The FAO warns in its report that rising food and agricultural input prices threaten food security. The latest edition of FAO's Food Outlook shows that many vulnerable countries are spending more without receiving more food. Therefore, the organization is proposing a food import financing mechanism to provide balance of payments support to low-income countries most dependent on food imports in order to maintain their food security.

Global food import expenditures are expected to increase by US$51 billion over 2021, of which US$49 billion is due to price increases alone. The least developed countries (LDCs) are forecast to experience a 5 percent contraction in their food import bill this year, while sub-Saharan Africa and the group of developing countries are expected to experience a 5 percent increase.Sub-Saharan Africa and the group of net food-importing developing countries will see the total rise despite a decline in import volumes. "

The Food Outlook provides more in-depth analyses of key agricultural commodities, including wheat, corn, rice, the oilseed crop sector, as well as dairy, meat, fish, and sugar. Along with soaring food prices, the agricultural sector's cash flow is constrained by rising input costs, particularly fertilizer and fuel, which in turn could precipitate higher food prices.