This event presents FAO’s flagship report on “The State of Food and Agriculture 2023”. This year the topic is “Revealing the true cost of food for transforming agrifood systems”. The Report presents an initial national-level assessment that quantifies, to the extent possible, the hidden costs of national agrifood systems in a consistent and comparable way, for 154 countries. The results are a starting point to stimulate debate and dialogue. With input from in-country stakeholders and experts, the initial quantification and analysis can be improved based on country-specific information and be a useful input into decision-making.