The Future of Cereal Prices

The current literature on predicting long-term food prices includes three types of projections based on declining, steady, and rising prices. However, these projections have mainly focused on key drivers such as population, income, agricultural productivity, and climate change. In addition, these projections have not previously connected to agricultural support policies. This note aims to fill this gap in the literature by focusing on cereal price outlook and providing comments on further critical drivers of change that merit greater attention in the future.