World Bank: Food Prices Forecast to Rise About 7 Percent in 2027, Grains About 9 Percent
Global food commodity prices are projected to rise by about 10 percent in 2026 and a further 7 percent in 2027, according to the World Bank's latest Commodity Markets Outlook, published on October 28, as higher energy costs, weather disruptions and trade challenges put pressure on food supplies.
Grain prices are forecast to rise 14.1 percent in 2026 and a further 9.3 percent in 2027, with the sharpest gains expected for US hard red winter wheat, whose average price is projected to reach $311 per ton in 2026, compared with $243 per ton in 2025, before climbing to $353 per ton in 2027. Global energy prices are expected to increase by 32 percent in 2026, with Brent crude averaging $91 per barrel this year, compared with $69 in 2025, before declining to $79 next year.
Ayhan Kose, the World Bank's Deputy Chief Economist and Director of the Prospects Group, said rising energy costs and trade disruptions are putting pressure on commodity markets and threatening to worsen inflation, food insecurity and economic growth. The Bank identifies further attacks on Black Sea grain shipments, rising energy costs and the possibility of a stronger El Niño event among the main risks to its outlook, and says food prices could exceed current projections if global conflicts intensify.
Source: GSM · USA (original Chinese edition)
Photo: 照片：小麦收割（资料图），Michael Gäbler 摄，Wikimedia Commons，CC BY-SA 3.0 授权 / Photo: wheat harvest, by Michael Gäbler, Wikimedia Commons, CC BY-SA 3.0
