Global food markets still brace for uncertainty in 2020/21 because of COVID-19 says FAO. Photo credit:©FAO/Veejay Villafranca

Global food markets still brace for uncertainty in 2020/21 because of COVID-19 says FAO

11/06/2020

Food Outlook report assesses global supply and demand for major food commodities

Food markets will face many more months of uncertainty due to COVID-19, but the agri-food sector is likely to show more resilience to the pandemic crisis than other sectors, according to a new report released today by the Food and Agriculture Organization of the United Nations (FAO).

The Food Outlook report provides the first forecasts for production and market trends in 2020-2021 for the world's most traded food commodities - cereals, oilcrops, meat, dairy, fish and sugar.

"The impacts of the COVID-19 pandemic have been felt - at varying degrees - across all food sectors assessed by FAO. Whilst COVID-19 has posed a serious threat to food security, overall, our analysis shows that from the global perspective, agricultural commodity markets are proving to be more resilient to the pandemic than many other sectors. That said, owing to the size of the challenge and the enormous uncertainties associated with it, the international community must remain vigilant and ready to react, if and when necessary," said Boubaker Ben-Belhassen, Director of the FAO Trade and Markets Division.