Washington/Rome - The Food and Agriculture Organization of the United Nations (FAO) is calling for a global Food Import Financing Facility (FIFF) to help poorer countries deal with surging prices as a result of the war in Ukraine.
The FIFF, which is also aimed at increasing global agricultural production and productivity in a sustainable way, is one of six policy proposals put together by FAO in response to the crisis.
Russia and Ukraine are important players in the global food market, with almost 50 countries dependent on them for at least 30 percent of their wheat import needs. Russia is also a key exporter of fertiliser. In 2020, it ranked as the top exporter of nitrogen fertiliser, the second leading supplier of potassium, and the third largest exporter of phosphorous fertiliser. - FAO