FAO forecasts 2.9% growth in aquaculture production in 2022
Thursday, June 16, 2022
The global fisheries and aquaculture production in 2022 is expected to increase by 1.5%, to 184.6 million tonnes, according to the latest biannual FAO’s Food Outlook. Growth in the aquaculture sector has picked up relative to last year, at 2.9% (92.2 million tonnes), but continued caution over stocking and input costs keep the rate below the long-term trend. These figures reflect both the ongoing recovery of the market and the continuing challenges affecting suppliers, which together are causing an increase in fish prices, the report said.
In view of the soaring input prices, concerns about the weather, and increased market uncertainties stemming from the war in Ukraine, FAO’s latest forecasts point to a likely tightening of food markets in 2022. Meanwhile, the global food import bill is on course to hit a new record high of USD 1.8 trillion, an all-time high, almost entirely on account of higher prices.
Check out the report here.
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