One trillion food import bill as prices rise

International food import bills could pass the one trillion dollar mark in 2010 with prices in most commodities up sharply from 2009, FAO Media Centre said today. In the latest edition of its Food Outlook report, the FAO also issued a warning to the international community to prepare for harder times ahead unless production of major food crops increases significantly in 2011. Food import bills for the world’s poorest countries are predicted to rise 11 percent in 2010 and by 20 percent for low-income food-deficit countries. This means, by passing a trillion dollars, the global import food bill will likely rise to a level not seen since food prices peaked at record levels in 2008. Click on the link to read the full story.