World Bank forecasts 7% rise in food prices by 2027

The World Bank Group's latest Commodity Markets Outlook forecasts a 7% increase in global food commodity prices for 2027, following a projected 10% rise in 2026. This increase is attributed to higher energy costs, weather-related supply pressures, and disruptions to exports, particularly from the Black Sea.

Grain prices are expected to rise by 9% in 2027, although favorable harvests in some regions may mitigate global price increases. The report indicates that the early effects of El Niño on tropical commodity supplies and higher energy prices will significantly impact food prices.

While total grain supplies for the 2026–2027 season are projected to be 3% higher than in 2024–2025, consumers in areas facing adverse weather or supply disruptions may experience sharper price increases. In contrast, beverage prices are expected to fall by 24% in 2026 due to recovery in cocoa and coffee production.

The World Bank's projections suggest ongoing pressure on food prices globally in 2027.