Costs of imports will continue to soar across the globe due to higher prices, it warns The world food import bill is estimated to rise to $1.94 trillion this year, higher than previously expected, according to the UN Food and Agriculture Organization (FAO). In its latest report released on Friday, the FAO said this would mark an all-time high and a 10% increase over the record level of 2021, although the pace of the increase is expected to slow in response to higher world food prices and currencies depreciating against the US dollar. Both weigh on the purchasing power of importing countries and, subsequently, on
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