Maximo Torero POLICY SEMINAR Virtual Event - Local vs Global? The role of trade in building food system resilience JAN 13, 2021 - 09:30 AM TO 11:00 AM EST

1. Maximo Torero Cullen
Chief Economist, Food and
Agriculture Organization of the
United Nations
Local VS Global?
The Role of trade in building
food system resilience

2. Average percentage of the population who could not afford a healthy diet in 2017
MORE THAN 3 BILLION PEOPLE IN THE WORLD CANNOT AFFORD A
HEALTHY DIET

3. Global
agri-food trade doubled in
real terms since 1995
THE EVOLUTION OF AGRI-FOOD TRADE
COVID-19 pandemic affects
trade and food value
chains

4. Over one‐third of all
agri-food exports forms
part of a value chain
that involved at least
three countries
GLOBAL VALUE CHAINS - FOOD THAT CROSSES BORDERS TWICE OR MORE

5. GLOBAL VALUE CHAIN PARTICIPATION
Many countries trade more than 35 percent of their food through global value chains

6. • The commodities for
which global trade
underwent the highest
contraction in H1-2020,
compared with H1-2019
and H2-2019, can be
regarded as highly income
elastic, consisting of
‘beverages’ and ‘fish
products’, and to some
extent ‘livestock products
• These traded commodities
could conceivably have
been substituted with
domestic products
Schmidhuber, & Qiao, B. 2020. Recent trends in food imports bills and export earnings: the Covid-19 challenge, Food Outlook (November 2020), Rome, FAO.
6
RECENT TRENDS IN THE WORLD FOOD IMPORT PRODUCT
VOLUMES (USD BILLION, 2015 CONSTANT PRICES)