UN Agriculture Fund Warns of Looming Global Food Crisis Due to Energy Shock

The International Fund for Agricultural Development (IFAD), a UN agriculture development fund, has warned of a 'looming global food crisis' as rising energy and fertilizer costs impact smallholder farmers and drive up agricultural commodity prices. Global agricultural prices jumped 13 percent in the third quarter of the year, with IFAD President Alvaro Lario stating that continued increases in food prices and inflation are expected over the next six to nine months, disproportionately affecting vulnerable populations.