The FAO’s 2024 Food Outlook projects a 2.2% increase in the global food import bill, exceeding US$ 2 trillion, driven by rising prices for cocoa, coffee, tea, and higher costs for fruits and vegetables. Climate change and extreme weather events have exacerbated supply shortages, particularly for wheat, with major exporters...
In recent months, the price of cocoa has surged to an all-time high. At about US$ 10,000 per metric ton in March 2024, the prices have more than doubled over the last year due to a global supply shortage which is largely attributed to climate change. The surge in prices...
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