World Bank forecasts 28% surge in global wheat prices in 2026
Profit by Pakistan Today • • 1 min read
The World Bank expects international wheat prices to climb 28% in 2026, with further gains forecast for 2027, Profit by Pakistan Today reported. Its October outlook puts the US hard red winter wheat benchmark at $311 per tonne this year, up from $243 in 2025, and projects $353 in 2027 before a decline to $315 in 2028.
The Bank cites disrupted Black Sea exports and weaker harvests as supply pressures. It estimates global wheat output will contract 3% in the 2026-27 season, while global food commodity prices are forecast to rise 10% in 2026 and 7% in 2027. A strong El Niño, continued hostilities and higher energy prices are risks that could push food prices beyond the current projections.
At a glance
- The World Bank forecasts a 28% rise in wheat prices in 2026.
- Global wheat production is projected to fall 3% in the 2026-27 season.
- Global food commodity prices are forecast to increase 10% in 2026.
Originally reported by Profit by Pakistan Today
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