Commodities Buzz: Global Agriculture Prices Expected To Decline 5% Next Year

27 Oct 2022 , 02:18 PM

The World Bank stated today that global agricultural prices are expected to decline 5% next year. Wheat prices in the third quarter of 2022 fell nearly 20 percent but remain 24 percent higher than a year ago. The decline in agricultural prices in 2023 reflects a better-than-projected global wheat crop, stable supplies in the rice market, and the resumption of grain exports from Ukraine. Metal prices are projected to decline 15 percent in 2023, largely because of weaker global growth and concerns about a slowdown in China.Powered by Commodity Insights