Business News of Monday, 24 February 2025
Source: www.ghanawebbers.com
The World Bank projects that nearly 50 million people in West and Central Africa, including Ghana, will face food insecurity during the lean season from June to August 2025.
Its February 2025 Food Security Update warns that food security remains critically low in many low-income countries, driven by conflicts and climate change.
Although agricultural and export price indices have risen by 3% and 6% respectively, international crop prices have generally fallen except for maize, which hit a 15-month high due to supply limitations.
FAO data show that coarse grain prices in Mali and Burkina Faso have surged significantly compared to last year, largely due to high transport costs and production shortfalls.
Meanwhile, the World Bank’s Global Economic Prospects report projects global growth to stay at 2.7% through 2026, underscoring persistent challenges that continue to worsen food insecurity.