Rice, wheat and maize prices fall further globally: World Bank

Rice, wheat and maize prices
A worker sifts wheat before filling in sacks at the market yard of the Agriculture Product Marketing Committee (APMC) on the outskirts of Ahmedabad, India on May 16, 2022. Reuters file photo

The prices of rice, wheat and maize fell globally in the two weeks to March 23 compared to two weeks ago, showed the World Bank Food Security Update. 

It said maize and rice prices closed 1 per cent lower and wheat closed 2 per cent down than two weeks ago.

Maize prices fell 13 per cent and wheat prices were almost 34 per cent lower than the highs of more than a year ago when Russia invaded Ukraine. Rice prices were up 17 per cent.

Maize and wheat prices were, respectively, up 22 per cent and 4 per cent than in January 2021, while rice prices were 4 per cent lower.

The agricultural, cereal and export price indices closed 3 per cent, 2 per cent, and 2 per cent lower, respectively, in the two weeks to March 23, World Bank data showed.