WorldBank – Food Security Update, May 2024

In the World Bank's Food Security Update for May 2024, it was reported that agriculture and cereal price indices rose by 1% and 6% respectively since the previous update. The export price index, on the other hand, decreased by 4%. In low- and middle-income countries, domestic food price inflation remains high. The World Bank's Commodity Markets Outlook highlighted significant developments and future projections in global food commodity markets. Additionally, the report "Recipe for a Livable Planet" outlines a strategic framework to address agrifood-related emissions while ensuring food security for a growing global population. The 2024 Global Food Policy Report emphasizes sustainable healthy diets and provides evidence-based recommendations on making these foods more desirable, affordable, accessible, and available while considering environmental impacts. As of May 29, 2024, maize and wheat prices have increased, while rice prices have decreased compared to the previous month. On a year-on-year basis, maize prices have decreased, while wheat and rice prices have increased. Compared to January 2020, maize, wheat, and rice prices have all experienced significant increases.