Over one billion people are on the brink of hunger globally.
This is according to data in the World Bank July 2023 edition of the Agricultural Market Information System (AMIS) Market Monitor.
The bank says a majority of the affected people are in low and middle income countries in Africa, Asia, Latin America and the Middle East.
The Bank noted that geopolitical tensions that threaten the Black Sea Grain Initiative, including the collapse of the Nova Kakhovka dam in Ukraine were some of the factors contributing to the food shortages being experienced in some parts of the globe.
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The report also cited the damage to the ammonia pipeline between Russia and Ukraine.
On June 6, 2023, the collapse of the Kakhovka dam in southeastern Ukraine resulted in extensive flooding, posing a threat to drinking water supplies and raising concerns for agricultural areas that rely on the reservoir for irrigation. The Kakhovka dam and reservoir are crucial for agriculture, providing water through major irrigation canals to more than 500,000 hectares of farmland.
The report also stated that 78.9% of high-income countries are experiencing high food price inflation, with the most-affected countries being situated in Africa, North America, Latin America, South Asia, Europe, and Central Asia. In real terms, food price inflation exceeded overall inflation in 79.8% of the 163 countries where data is available.
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