Baku: The World Bank has updated its forecast for wheat prices for 2026-2027, reflecting a slight decline from previous projections.
According to Azeri-Press News Agency, the World Bank’s latest report on commodity markets indicates that the price of wheat is expected to be $253 per ton in 2026, which is $5 lower than the forecast issued in October of the previous year.
The projections further detail that wheat prices will reach $260 per ton in 2027, marking a $7 decrease compared to the earlier forecast from October. The World Bank estimates that wheat prices will experience a year-on-year increase of 4% in 2026 and a 2.8% rise in 2027.
The report also highlights that the price of wheat was $243 per ton in 2025, underscoring a trend of gradual price increases over the forecast period.