Maize, wheat, rice prices fall globally: World Bank

Maize, wheat, and rice prices closed lower in the two weeks to March 9, according to the World Bank.

In its food security update, the multilateral agency said the prices of maize, wheat, and rice were down 6 per cent, 7 per cent, and 2 per cent lower, respectively, compared to two weeks ago. 

On a year-on-year basis, maize and wheat prices are 15 per cent lower, whereas rice prices are 19 per cent higher.

Compared to January 2021, maize and wheat prices are 24 per cent and 7 per cent higher, respectively, while rice prices are 3 per cent lower.

The agriculture, and cereal price indices closed 2 per cent and 5 per cent lower, respectively, compared to two weeks ago, while the export price index closed at the same level, the World Bank said.