Double whammy: Both farmers and consumers hit by high prices

ROME (AP) — A U.N. agency has issued a glum world forecast, saying that food import bills appear headed to a record high and food markets are likely to tighten. The Food Outlook, which is issued twice a year by the Rome-based Food and Agriculture Organization, also found that “many vulnerable countries are paying more but receiving less food” in imports. The forecast released Thursday (June 9, 2022) cited soaring agricultural production costs, such as for fuel and fertilizers. It also mentioned concerns about the weather — including droughts — and increased uncertainties stemming from the war in Ukraine, which is an important grain producer. The agency said all these factors point to “low real prices for farmers, despite the high prices faced by consumers.”