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Food Commodity Prices Expected to Ease in 2024

Global food commodity prices are expected to retreat from record highs in 2024 following three years of turbulence caused by war, weather and escalating energy and input costs, according to Rabobank’s annual Agri Commodity Markets Outlook report. With lower agricultural commodity prices, one of the main drivers behind food price inflation is set to ebb. Despite relief on prices and availability, Rabobank still predicts demand to remain weak as consumers continue to deal with economic challenges, including high inflation and interest rates.

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