World Bank anticipates substantial decline in global food prices by 2025

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Pulse-gh April 27, 2024 1:50 p.m.

World Bank anticipates substantial decline in global food prices by 2025

As global food prices are predicted to decrease, it remains uncertain how these changes will impact Ghana's food market and the overall food security situation in the country.

The report forecasts a 6 percent decrease in food prices in 2024, followed by an additional 4 percent decline in 2025.

Specifically, wheat prices are forecasted to decline by 15 percent in 2024, driven by increased production, with an additional 2 percent decrease projected for 2025.

According to the April 2024 Commodity Outlook Report released by the World Bank, a significant drop in global food prices is expected in 2024 and 2025..

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