Food security worsened since January: Agribank

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The food security situation in Namibia was projected to worsen between January and March 2023, according to the Namibia IPC acute food insecurity report.

This was revealed by Agribank in its Monthly Market Watch report issued on Tuesday, which also said this corresponds with the last and second half of Namibia’s lean season, with 390 000 people forecast to experience high levels of acute food insecurity.

The Kavango East, Kavango West, Kunene, Omaheke, Oshikoto and Otjozondjupa regions have the majority of people who are in food crisis, it said.

The report noted that the tight labour market, high food and fuel costs further derailed food security.

“The blended concerns of erratic rainfall and rising food inflation could worsen consumers’ affordability,” the report said.

Food prices remained elevated one year after Russia’s invasion of Ukraine and this has affected agricultural commodity markets, which reached peak levels at the end of 2022.

The report said countries that rely on food imports are particularly at risk as Russia enters a second year of war, with it being one of the largest exporters of wheat and other crucial crops.

The monthly market watch report further said Namibia’s inflation rate stood at 7.0 per cent in January 2023 from 4.6 per cent recorded in the same period in 2022, with transport and food remaining the major contributing factors.

Food and non-alcoholic beverages surged to 14.0 per cent in January 2023, up from 5.6 per cent in January 2022.

Food inflation is predominantly attributed by prices of bread and cereals, which surged by 22.3 per cent in January 2023 from 3.8 per cent in January 2022.

“The price hikes are attributed to increases of all types of grains. Fruit also increased by 22.3 per cent in January 2023 from 12.8 per cent in the same period in 2022, owing to significant increases in the prices of citrus fruit, watermelons and avocados,” the report said.

Source: The Namibian Press Agency