Food price increases were projected to decrease through 2034 for major commodities other than rice

Line chart showing prices in U.S. dollars per metric ton for vegetable oils, rice, wheat, sorghum, and corn from 2019 projected through 2034.

The Coronavirus (COVID-19) pandemic and Russia’s invasion of Ukraine led to higher food prices around the world. But lower inflation, increased production, and supply chain improvements have reduced food insecurity in the world’s most vulnerable countries.


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