World Bank – Food Security Update, Apr 2024

The latest World Bank Food Security Update for April 2024 shows that agriculture and cereal prices have increased by 1 percent, and export prices have risen by 3 percent. In low- and middle-income countries, domestic food price inflation remains high. The Global Report on Food Crises indicates that 282 million people in 59 countries and territories faced acute hunger in 2023, an increase of 24 million from the previous year. Global wheat ending stocks are expected to reach an eight-year low for the 2023/24 period. International fertilizer prices have fallen by 50 percent compared to their peak in April 2022, as reported by IFPRI. The IFPRI blog highlights that southern Africa is suffering from a severe drought since late 2023, leading to reduced harvests, disaster declarations in Malawi, Zambia, and Zimbabwe, and widespread impact across the region due to the ongoing El Niño Southern Oscillation.