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. 

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