All three components of the index are expected to decline in 2025, grains by 11 per cent and oils and meals, and other foods, by 7 per cent and 5 per cent, respectively.

According to its Commodity Markets Outlook, all sub-compo­nents of the food index were how­ever expected to remain broadly stable in 2026.

The projected downturn in grain prices for 2025 according to the report was primarily driven by an expected 29 per cent plunge in rice prices, reflecting ample sup­plies and the relaxation of export restrictions by India.

Similarly, global rice production in 2024-25 the report said was expected to increase by 2 per cent, with production in India, which accounts for about 40 per cent of global exports, forecast to rise by 5 per cent.

Rice prices are projected to be stable in 2026 as preliminary esti­mates for the 2025-26 season from the International Grains Council indicate that a small increase in global supply will be matched by a similar increase in consumption.

Wheat prices are forecast to edge down in 2025-26, as down­ward demand pressure related to trade tensions is partially offset by tight supply conditions.

The World Bank added that near-record wheat production is expected to be narrowly outpaced by consumption, resulting in a decline in global stocks.

Also, maize prices are forecast to edge down by 2.0 per cent in both 2025 and 2026, weighed down by lower crude oil prices which reduce demand for ethanol,

 and thereby for maize and in­creased tariffs on U.S.-China trade.

Further downward pressure stems from the price advantage of maize in recent months over soy­beans and wheat, which is likely to incentivize maize acreage expan­sion, with production projected to rebound in the 2025-26 season.

However, the price decline is expected to be limited by tight in­ventories, projected to reach their lowest levels in over a decade