The latest FAO Food Outlook indicates that global supplies of major food commodities in 2024/25 are expected to be generally sufficient, with record levels projected for rice and oilseeds, although wheat and maize outputs may decline slightly. Despite favorable macroeconomic conditions and lower food prices, the report warns of potential disruptions from extreme weather events, geopolitical tensions, policy changes, and other factors that could destabilize global demand-supply balances, affecting prices and food security worldwide. The outlook covers detailed assessments for wheat, coarse grains, rice, oilcrops, sugar, meat, dairy, and fisheries, projecting a 2.5% increase in the global food import bill to surpass $2 trillion. Special chapters focus on the impact of shipping cost shocks and fertilizer markets, highlighting recent price declines and improved trade volumes, with stability expected in the near term contingent on energy market developments.
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