This blog post is based on the April 2024 Commodity Markets Outlook, a flagship report published by the World Bank. Global food commodity prices stabilized in April 2024, following six consecutive quarterly declines. The World Bank’s food price index is projected to decrease by 6 percent in 2024 and 4 percent in 2025. However, several risks underpin these price forecasts, including energy and fertilizer costs, potential maritime chokepoints, and weather-related supply shortfalls. In the longer term, biofuel policies could affect food prices.