Introduction

This World Bank Food Security Update, released on September 26, 2024, offers a current assessment of the global food security landscape. It synthesizes data and findings from various reports and monitoring systems to provide a concise overview of key trends and challenges. This resource matters because it informs policymakers, development practitioners, and other stakeholders about the evolving food security situation, helping to guide interventions and resource allocation.

Key Insights

Global Commodity Market Trends

The update notes that as of September 23, 2024, the agricultural and export price indices had slightly increased since the last update in June 2024. The cereal index remained unchanged. While maize and rice prices saw slight decreases, wheat prices increased. Looking at year-on-year trends, maize, wheat, and rice prices are lower compared to the previous year, but still higher than pre-pandemic levels (January 2020).

Food Price Inflation Dashboard

Domestic food price inflation remains a significant concern, particularly in low- and middle-income countries. The data, sourced from the latest available information between May and August 2024, shows high inflation rates in many of these countries. Specifically, “inflation [is] higher than 5 percent in 77.3 percent of low-income countries (18.2 percentage points higher since the last update on June 27, 2024).” This highlights the continued pressure on household budgets and access to nutritious food.

Escalating Global Food Crises

The Global Report on Food Crises 2024 Mid-Year Update reveals alarming trends in acute food insecurity and malnutrition. A concerning statistic is the surge in the number of people projected to be in Catastrophe (IPC Phase 5) conditions, rising from 705,000 in 2023 to 1.9 million in 2024. Conflicts in Sudan and the Gaza Strip are identified as primary drivers of this increase.

Challenges to Achieving Zero Hunger

The State of Food Insecurity and Nutrition in the World 2024 report paints a concerning picture regarding the progress towards Sustainable Development Goal (SDG) 2, Zero Hunger. Despite some regional improvements, global undernourishment persists, with an estimated 713 to 757 million people affected in 2023. The report emphasizes the need to transform agrifood systems to enhance resilience against hunger and ensure equitable access to healthy diets.

Key Statistics & Data

• Agricultural and export price indices increased by 1% and 2% respectively since June 27, 2024.
• 1.9 million people are projected to be in Catastrophe (IPC Phase 5) in 2024, up from 705,000 in 2023.
• 713 to 757 million people are affected by global undernourishment in 2023.
• 77.3% of low-income countries experienced food inflation higher than 5% between May and August 2024.
• 80 million people in East and Southern Africa are projected to be food insecure by February 2025.

Methodology

This update synthesizes information from various sources, including:

• World Bank commodity price data
• International Monetary Fund (IMF) data
• Haver Analytics
• Trading Economics
• Global Report on Food Crises 2024 Mid-Year Update
• The State of Food Insecurity and Nutrition in the World 2024 report
• Agricultural Market Information System (AMIS) Market Monitor for September 2024
• Food Security Information Network 2024
• RTP Data

The analysis relies on established indicators such as the Consumer Price Index (CPI) and the Integrated Food Security Phase Classification (IPC).

Applications

The insights from this update have several applications for digital development, Digital Public Goods and/or Digital Public Infrastructure:

• Targeted Social Protection: The data on food price inflation and food insecurity hotspots can inform the design and implementation of targeted social protection programs, ensuring that assistance reaches the most vulnerable populations. DPGs that facilitate efficient beneficiary identification, registration, and payment delivery can play a crucial role.

• Early Warning Systems: Monitoring commodity prices, weather patterns, and conflict situations is essential for early warning systems. DPI, like shared data platforms and interoperable information systems, can improve the timeliness and accuracy of these systems, allowing for proactive interventions.

• Resilient Agrifood Systems: The report highlights the need to transform agrifood systems to enhance resilience. Digital technologies can support this transformation by improving access to information, markets, and financial services for smallholder farmers. DPGs that provide agricultural extension services, market price information, and access to digital finance can contribute to more resilient agrifood systems.

• Nutrition Initiatives: The report emphasizes the importance of addressing malnutrition. Digital tools can support nutrition initiatives by improving monitoring of nutritional status, promoting healthy diets, and delivering targeted interventions to vulnerable groups.

Related Resources

• Global Report on Food Crises: Provides detailed analysis of acute food insecurity situations around the world.
• The State of Food Insecurity and Nutrition in the World: Offers a comprehensive assessment of global hunger and malnutrition trends.
• Agricultural Market Information System (AMIS) Market Monitor: Monitors global commodity markets and provides forecasts.

These resources, combined with the World Bank’s update, provide a holistic view of the challenges and opportunities in addressing global food security.