World Bank expects more pronounced fall of agricultural prices

In its quarterly report, the World Bank also commented on global agricultural prices and the impact of El Niño. Despite the powerful nature of El Niño, it does not envisage rising prices on the global agricultural markets. According to its estimates, prices are set to fall by 13% overall this year. 

In its last forecast, the World Bank had still been anticipating a price drop of 10.7%. Grain prices were the main reason for the revised forecasts: while the World Bank still expected price deflation of 9.2% in its last report, it has now raised this figure to 14.5%, notes Commerzbank. 

According to the World Bank, this is due above all to the plentiful stocks of key agriculturals.