19
Jan
Prices of agricultural products are forecast to decline by 5% in 2023, reflecting better prospects for global production alongside lower input costs, particularly for fertilizers. According to the World Bank Food Security Update, despite these projections, prices are expected to remain above pre-pandemic levels. In addition, the report highlights the possibility that fertiliser prices will continue to rise in response to higher natural gas prices caused by the closure of several European fertiliser manufacturers. In emerging markets and developing economies, the report said food insecurity remains a serious concern, driven by trade restrictions, weather-related events, and conflict, including the Russian…