The Assistant Director-General and Regional Representative for the Near East and North Africa at the Food and Agriculture Organization of the United Nations (FAO), Abdul Hakim Al-Waer, pointed out that "the rise in grain prices came after the outbreak of the Black Sea crisis, but it began to decline gradually." Pointing out that "the year 2023 is expected to witness greater fluctuations in food prices as a result of fluctuations in fertilizer prices."
He revealed that the global food bill is about $2 trillion annually, saying, "The next stage will be difficult, and we will witness an increase in food prices, and we will closely monitor the fertilizer and gas sectors." Stressing, "Some agricultural products witnessed an increase in production, especially maize, which led to a limited and relative decrease in the past months."
He pointed out that “the decline in prices may not be sustainable, given the coincidence of the harvest period for some countries importing agricultural imports. There is also a decrease in demand during the current period, which leads to a relative decline in food prices.”
Al-Waer explained that with the onset of winter and an increase in demand for gas, which is an essential component of the fertilizer industry, that is essential for food production, there would be greater scarcity and perhaps another increase in prices with the end of the winter season.
Source (Al-Arabiya.net Website, Edited)
