Displaying items by tag: forecasts by oxford economics

Since the beginning of 2023, the prices of wheat and corn have significantly dropped, substantially easing the food budgets of consumers worldwide. These two grains, along with rice, are the main sources of calories for the global population. However, in contrast to wheat and corn, rice prices are rising. This price increase is mainly due to export restrictions imposed by India and the poor harvests last year in that country, which accounts for about 40% of the global rice production.