Photo used for illustrative purpose.
Food prices soared to a monthly record high in March after Russia invaded agricultural powerhouse Ukraine, a major supplier of wheat and cooking oil to the world.
A Russian naval blockade that prevented Ukrainian grain exports was lifted following a deal in July that was brokered by Turkey and the United Nations.
The Food and Agriculture Organisation (FAO) said on Friday its price index, which tracks the monthly change in international prices of a basket of food commodities, fell to 132.4 points in December, a 1.9 per cent drop from November. It was also one percent lower than in December 2021.
But the index was 14.3 per cent higher overall in 2022 compared to the previous year as it reached an all-time high of 143.7 points.
"Calmer food commodity prices are welcome after two very volatile years," FAO chief economist Maximo Torero said in a statement.
"It is important to remain vigilant and keep a strong focus on mitigating global food insecurity given that world food prices remain at elevated levels," he said.
Torero said many staples are near record highs, with prices of rice rising and "still many risks associated with future supplies."
The move, which will bring total available funding for projects over the next 15 months to $30 billion, was unveiled hours before a major United Nations meeting on global food security.
Joining forces, the Food and Agriculture Organisation, FAO, and the World Health Organisation, WHO, flagged that "food safety is a shared responsibility" with a role for everyone to play, from governments, industry and producers to
Speaking at the meeting Noura Al Kaabi said, “More than 700 million people are going hungry around the world, while a third of the world’s population, almost 2.5 billion people, had restricted access to food last year. 45 million children under the age of five suffer from acute malnutrition.”
“Armed conflict destroys food systems, shatters livelihoods and drives people from their homes, leaving many extremely vulnerable and hungry. Sometimes these impacts are by-products of war, but all too often they are inflicted deliberately and unlawfully..."
In addition, His Highness was briefed on Q2 performance reports from Abu Dhabi Government departments on projects, services and initiatives to benefit the community.
The latest group of 30 participants for CNN Academy Abu Dhabi includes 16 Emiratis and 14 UAE residents from 12 countries, including Egypt, France, India and Syria.
President His Highness Sheikh Mohamed Bin Zayed Al Nahyan has sent a message of congratulations to President Serdar Berdymukhamedov of Turkmenistan, on the occasion of his country's Independence Day, which is celebrated annually on 27th of September.
The Year of Sustainability team, in its latest video release, the "Year of Sustainability: Today For Tomorrow” has called upon all those who call the UAE home to step-up efforts towards climate action.