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Global Wheat Prices Down, and Rice Prices Remains Unchanged


Published Date: May 12, 2023
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The World Bank's Food Security Update shows that while rice prices have remained largely unchanged over the past two weeks, the prices of wheat and maize have fallen 11% and 14%, respectively, on the international markets. 

Price Updates 

The decline in the cereal price index was caused by falling prices for maize and wheat. According to the 8th May update, the slide in the export price index was primarily caused by the drop in coffee prices, which were 12% lower than two weeks prior. Maize and wheat prices are down 17% and 38%, respectively, year over year, while rice prices are up 15%.  In comparison to January 2021, maize prices are up 13%, while the wheat and rice prices are down 6% and 4%, respectively. According to the WB, the agricultural, cereal, and export price indices closed 8%, 9%, and 11% lower than they had two weeks prior. 

If you are a wheat importer wishing to buy wheat in bulk or a wheat exporter willing to export bulk wheat, then Tradologie.com is the right platform for you. 

Tradologie is a global digital trade hub that facilitates bulk agro-commodities trade in a transparent manner. Through Tradologie’s AI-based platform, buyers and sellers can connect directly with each other in real-time, and negotiate prices to get the best deals, without the involvement of any middlemen. Hence, ensuring the best rates for both buyers and sellers on the platform, with an overall major reduction in the cost of trade by close to 10%. 

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