Food Outlook - June 2007

Year of publication2007

AuthorFAO

PublisherFAO

AbstractBased on FAO’s latest analysis, global expenditures on imported foodstuffs look set to surpass US$400 billion in 2007, almost 5 percent above the record of the previous year. The bulk of the increase can be levelled against rising prices of imported coarse grains and vegetable oils, the commodity groups which feature most heavily in biofuel production. Import bills for these commodities are forecast to rise by as much as 13 percent from 2006. More expensive feed ingredients will lead to higher prices for meat and dairy products, raising the expenditures on imports of those commodities. In several cases, such as meat and rice, the import bills are likely to be driven higher also because of larger world purchases. On the other hand, in the case of sugar, generally high and volatile prices could lead to smaller import volumes, the net effect of which is likely to be a drop in the cost of global sugar imports. The rise of international freight rates to new highs also affected the import value of all commodities, putting additional pressure on countries’ ability to cover their food import bills.

 

Product typeBook (stand-alone)

SeriesFood Outlook

Areas of workGlobal Commodity Markets

KeywordsFood security; food chains; food production; food shortages; food stocks; food supply; markets; commodity markets; production statistics; trade statistics; monitoring; resource evaluation